Can you explain the difference between joint demand and competitive demand?

Competitive Demand means You can derive equal satisfaction from either product e.g. substitutes like jam and marmalade. Therefore jam and marmalade are in competitive demand. 

Whereas 

 goods in joint Demand a consumer will require Both For maximum consumer satisfaction e.g. Complements like cars and tyres. 

SW
Answered by Sophie W. Economics tutor

28306 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

What is the natural rate of unemployment? Can we have a 0% rate of unemployment?


What would be the economic impacts of a decrease in the tax rate for all tax brackets? Use the idea of aggregate demand your answer.


What is the difference between factors that affect supply and the elasticity of supply?


Please explain what price elasticity of demand is, in the context of simple supply and demand of a good in a competitive market.


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

MyTutor is part of the IXL family of brands:

© 2025 by IXL Learning