17. Demand for a good that has
multiple different uses is known as_____.
a. Derived demand
b. Direct demand
c. Composite demand
multiple different uses is known as_____.
a. Derived demand
b. Direct demand
c. Composite demand
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Answer:
elastic demand
EXPLANATION
Demand for the commodity having multiple uses is elastic demand because the demand for a particular commodity that can be used in a variety of ways will be more affected by the changes in price. * A commodity is said to have elastic demand if it is sensitive to the changes in the price.
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