A commodity which is used for multiple purposes, then the demand for it is known as ______________.

Joint Demand

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Composite Demand

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Direct Demand

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Autonomous Demand

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Solution

The correct option is C Composite Demand
A commodity which is used for multiple purposes, then the demand for it is known as composite demand. For example, milk experience a composite demand since milk is itself a food product, it is also used for making other products, such as, ghee, butter, curd, etc.

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Which of the following is not a determinant of a consumer's demand for a commodity?

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