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

27727 Views

See similar Economics A Level tutors

Related Economics A Level answers

All answers ▸

What is a Production Possibility Frontier?


Assume the market for Easter rabbits is currently at long term equilibrium. Assume Australia is the largest supplier of easter rabbits. A sudden explosion in the rabbit population of Australia leading up to Easter. How will the market react?


Explain how a public good is different to a private good.


When would a reduction in the base rate of interest by the MPC be appropriate, and why?


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