Question : Demand for complementary goods is known as
Option 1: Joint demand .
Option 2: Derived demand .
Option 3: Direct demand .
Option 4: Cross demand .
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Correct Answer: Joint demand .
Solution : Correct Answer is Joint demand .
Joint demand is the combined demand for two or more related goods. Therefore, demand for one product has an impact on demand for other closely related products. It also goes by the name of complementary demand. Fish and chips, steel and iron ore, and smartphone applications are a few examples of products with a shared demand. When demand for two goods is interdependent, joint demand occurs.
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