Micro 3.7 0.0 / 5 ? EconomicsThe Interrelationship between MarketsA2/A-levelAQA Created by: neve.whinnCreated on: 13-03-20 09:50 What do shifts of demand and supply curves arise from? Changes in market conditions, and changes in associated markets. 1 of 7 What are products in joint demand known as? Complementary goods. 2 of 7 What are complementary goods? Goods that tend to be demanded together. 3 of 7 When does joint supply exist? When the production of one good also leads to the production of another good. 4 of 7 When does composite demand exist? When a good is demanded for more than one distinct use. 5 of 7 How does composite demand work? An increase in demand for one of the distinct uses reduces the supply available for other uses. 6 of 7 When does derived demand exist? When a particular good or factor of production is necessary for the provision of another good or service. 7 of 7
Comments
No comments have yet been made