Examkin

Soru

Zorluk: ZorTypes of Demand

A sharp rise in the market price of gas cookers causes a decrease in the demand for liquefied petroleum gas (LPG) and an increase in the demand for electric hobs. Which of the following correctly classifies the demand for LPG and electric hobs relative to gas cookers?

  1. Joint demand and competitive demandCevap
  2. B
    Competitive demand and joint demand
  3. C
    Derived demand and composite demand
  4. D
    Composite demand and derived demand

Cevap

Joint demand and competitive demand
Liquefied petroleum gas (LPG) is required to operate a gas cooker, so they are consumed jointly to satisfy one economic want (cooking). When gas cookers become more expensive, fewer are demanded, leading to a decrease in the demand for LPG (joint demand). Conversely, electric hobs serve as a direct substitute for gas cookers. An increase in the price of gas cookers causes consumers to shift towards electric hobs, increasing their demand (competitive demand).

Adım Adım Çözüm

1
Analyze the relationship between gas cookers and LPG
Since a price increase in gas cookers reduces the demand for LPG, the two goods are consumed together.
Goods that are used jointly to satisfy a single want exhibit complementary or joint demand.
2
Analyze the relationship between gas cookers and electric hobs
Since a price increase in gas cookers increases the demand for electric hobs, consumers are substituting gas cookers with electric hobs.
Goods that serve as direct alternatives to one another exhibit competitive demand.
3
Synthesize the classifications
LPG exhibits joint demand, while electric hobs exhibit competitive demand relative to gas cookers.
Combining the results yields the correct ordered classification pair.

Anahtar Kavram

Interrelated Types of Demand (Joint vs Competitive Demand)
Tahmini Süre:1m 30s
Bu soruyu puanla

Konular

Types of Demand

Bu konudan daha fazla soru