Question : Assertion: The desire for complementary commodities is shared. Reason: In order to fulfill a specific need, complementary goods are simultaneously demanded.
Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
Option 2: Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)
Option 3: Assertion (A) is true but Reason (R) is False
Option 4: Assertion (A) is False but Reason (R) is True
Correct Answer: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)
Solution : Joint or complementary demand is when two or more goods are jointly sought at the same time to fulfill a single want. When two or more goods or services are desired concurrently, it is referred to as joint demand. Hence option a is the correct answer.
Question : Assertion (A): Complementary goods have joint demand. Reason (R): In order to fulfill a specific need, complementary commodities are simultaneously desired.
Question : Assertion (A): Complementary goods are demanded simultaneously to satisfy a particular want. Reason (R): Complementary goods have joint demand
Question : Assertion: Complementary goods have joint demand. Reason: In order to satiate a specific need, complementary items are simultaneously needed.
Question : Assertion (A): Demand elasticity is higher for durable commodities. Reason (R): Demand for durable goods can be postponed once they are demanded at present.
Question : Assertion (A): Demand elasticity is higher for durable commodities. Reason (R): Once durable items are in high demand now, their demand can be delayed.
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