When two or more items are used in combination to produce a final product,they are said to have what type of demand?

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Joint demand is when two or more products are used together to produce a final product. For example, if a person wants to make a sandwich, they need bread and meat. Both items have joint demand as they are used together to create the final product. In contrast, derived demand is when the demand for one product is based on the demand for another product. Inelastic and elastic demand refer to how much the demand for a product will change in response to a change in price.

When Two or More Items Are Used in Combination to Produce