The overall demand for crude oil for various uses is an example of __________?
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Correct Answer: Option C
Explanation:
Composite demand is where goods have more than one use. An increase in the demand for one product leads to a fall in supply of the other. An example is milk which can be used for cheese, yoghurts, cream, butter and other products
Composite demand is where goods have more than one use. An increase in the demand for one product leads to a fall in supply of the other. An example is milk which can be used for cheese, yoghurts, cream, butter and other products