Karteikarten
Inter related markets
Karten in diesem Stapel (16)
- 1What are the five types of demand and supply?Joint demand/Complimentary goods
Competitive demand/ substitute goods
Derived demand
Composite demand
Joint supply - 2What is an example of complimentary goods?DVDs and DVD Players
- 3What is the the definition of joint demand?In demanding one good the consumer will also demand another good
- 4What will an increase in quantity demanded of one good will lead to?An increase in quantity demanded of one good will lead to an increase in the quantity demand of another resulting in an increase in the price and the quantity bought of the other compliment
- 5What is the definition of Competitive demand?If two goods are substitutes for each other they are in competitive demand
- 6What is an example of substitute goods?Walkers crisps and Kettle crisps
- 7What will a rise of price of one good lead to?The rise in price of one good will lead to less demand for that good
and an increase in demand and a rise in the price of a substitute good - 8What is derived demand?Goods are needed for the production of other goods
- 9What is an example of derived demand?Steel and Cars
- 10What will an increase in the demand on one good will lead to?An increase in the demand on one good will lead to an increase in demand of the other good. An increase in the demand will lead to an increase in the price and quantity purchased of goods whose demand it derived from (original)
- 11What is the definition of composite demand?When a good is demanded for two or more uses
- 12What is an example of composite demandMilk- yoghurt, cheese, butter
- 13What will an increase in demand for one good?An increase in demand for one good will lead to a fall in the supply of the other
An increase on demand for one good will increase the price for both goods - 14What is the definition of Joint supply?When one good is supplied for different two purposes
- 15What is an example of joint supply?Beef and leather
- 16What will an increase in demand for one good?An increase in demand for one good will lead to an increase in its price and quantity supplied
The supply of the other good will also increase leading to a fall in its price
Informationen
- Beschreibung
- AS - Level Micro (Inter-Related Markets) Karteikarten am Inter related markets , erstellt von Maya Khangura am 18/02/2016.
- Erstellt von
- Maya Khangura
- Aufrufe
- 9
- Bewertung