JAMB 2016 Economics · Question 33

The demand for two or more commodities to satisfy a particular want is _____?

Options

  1. A.Derived
  2. B.Composite
  3. C.Competitive
  4. D.Joint

Answer: D. Joint

Explanation written with AI and checked against the answer key

Analyze the question: We need the term for the demand for two or more commodities that together satisfy one particular want.

Explain the concept: Economics has several types of demand:

  • Derived demand: Demand for a good because it is needed to produce another good. Example: demand for cocoa because chocolate is wanted.
  • Composite demand: Demand for a single commodity that has several alternative uses. Example: demand for palm oil for cooking, soap-making and cosmetics.
  • Competitive demand: Demand for goods that are substitutes. Example: Indomie or Supernoodles, Coke or Pepsi.
  • Joint demand: Demand for two or more goods that are used together to satisfy a single want. Example: car and petrol, bread and butter, pen and ink.

Solution:

  1. The question says "two or more commodities", so we need more than one good.
  2. These goods satisfy "a particular want" together, which means they are complements.
  3. Complementary goods are demanded together, and that is the definition of joint demand.
  4. Derived demand is about inputs for a final product. Composite demand is one good with many uses. Competitive demand is about substitutes. None of these fit.

Answer: The correct option is D. Joint.

Tip: Remember "Joint = Join together", like a car and fuel. For composite demand, think "one good, many uses". For competitive demand, think "rivals, so substitutes".

AI can make mistakes. Report anything that looks wrong.

Past questions © the examination body (JAMB/WAEC/NECO). DeeepSolve is not affiliated with them. Rights holders: see /copyright.