Types of Demand
- Joint or complimentary demand
This is demand for a commodity to complete the demand for another commodity . one of the commodity is a compliment to another and as a results , an increase in the demand for one will lead to increase in the demand for another .for example cars and petrol are jointly demanded because petrol is a compliment to cars .
- Derived Demand
This is the demand for a commodity or service because it is needed on a results of the demand of another commodity or service . for example thou is demanded as a results of the demand of bread or puff-puff , In Increase in the demand for one product will lead to an increase in the demand for the other
- Composite Demand
This is the total demand for a commodity use for several purposes for example flour is use for backing of bread , cake s and other food. An increase in the demand for bread will increase the supply of the flour use for bread and reduces the supply of flour use for baking cake . This will increase the price of the flour and cake and consequently the demand for cake will fall
- Competitive Demand
It is the demand for goods which are substitutes .An increase in the demand for one will reduce the demand for the other and a decrease on the demand for one will increase the demand for the other . for example savon Azur and C.C.C savon are on competitive
