Business, 01.11.2020 03:20 awh1088

List and explain any five types of demand and support your answers with two examples each

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Answer from: jess4659

Individual Demand

Organization and Industry Demand

Autonomous and Derived Demand:

Demand for perishable goods.

Long-term demand.

Explanation:

Individual Demand

Individual demand refers to the type of demands that derived from the consumers' personal preference.

Example of this:

- demands for a teenage student's favorite hair spray.

- a demands for a child's favorite toy

Industry Demand

Industry demand refers to the type of demands for a product that come from a specific industry which derived from special circumstances.

Example:

- Concerns about environment lead to the increasing demand for electric cars in automobile industry

- Increase in sedentary life style lead to increasing demand for software that enable remote work .

Autonomous Demand:

Autonomous demand refers to the type of demand that is derived from our biological nature.

Example:

- Demands for food because we feel hungry.

- Demands firewood to survive a cold winter.

Demand for Durable goods.

Demands for durable goods refers to the demands that derived from people's need to use a certain tools or goods for a long term period without making a re-purchase.

Example:

- Demands for jeans among coal miners who have to work in harsh environment that require a durable material

- Demands for trucks among farmers who need a sustainable vehicles to transport their goods.

Joint demand

Joint demand refers to the type of demand that derived from seeking a complementary for existing product.

Example:

- Demands of mousepads that increase from the increasing sales of computer mouse.

- Demands for sugar that increase from the increasing sales of pancake.

Answer from: Quest

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Answer from: Quest

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