GCE Economics 2024 Objective — Question 12
Question 12 of 50 from the General Certificate of Education (GCE) Economics 2024 Objective paper, with the correct answer and a full explanation.
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If demand for postal services decline as a result of increased use of e-mails, then the two services are in a
- A. A. composite demand
- B. B. derived demand
- C. C. competitive demandCorrect
- D. D. complementary demand
Explanation
Demand is said to be competitive when the demand for a commodity reduces the demand for another commodity. This is because commodities are close substitutes and one can be used in place of another.
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