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Elementary Theory of Demand — Economics STD 10 — Question

ICSE BoardEnglish MediumSTD 10EconomicsElementary Theory of Demand2 Marks
Question
Mention any two examples of composite demand.
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Answer

(i) Milk is used for preparing cheese, butter, curd, sweets, tea, etc. So, demand for milk is also a composite demand.
(ii) Land can be used for farming or building houses.
(iii) Demand for a smart phone to use as a camera, access the internet and make phone calls.

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