The overall demand for crude oil for various uses is an example of __________?

A. derived demand
B. competitive demand
C. composite demand
D. complementary demand

Correct Answer:

Option C – composite demand

Explanation

Composite demand is where goods have more than one use. An increase in the demand for one product leads to a fall in supply of the other. An example is milk which can be used for cheese, yogurts, cream, butter and other products