What is joint demand

Answer :

It refers to the demand for two or more goods which are used jointly or demanded together for example car and petrol, bread and butter, pen and refill, milk and sugar etc.change in any one commodity affects the other like increase in demand for cars leads to increase in demand for petrol, since both are used together, a car without petrol is of no use.Also a rise in the price of cars will lead to not only a fall in the demand for cars, but also a fall in the demand of petrol and vice versa.When the price of car rises it become more costly so people will demand less cars and thereby leading to fall in the demand of petrol.When the price of car falls it become relatively cheaper so people will demand more cars and thereby leading to increase in the demand of petrol.

Types of Demand

The demand for various goods can be classified on the basis of the number of consumers of a product, nature of the goods, interdependence of demand, nature of the use of product etc.

There are five major types of demand:

1) Individual Demand	Market demand
Quantity of a commodity that an Individual consumer is willing to purchase at a given price during a given period of time is known as individual Demand. It refers to the demand for a commodity by a single consumer or household, also known as household demand. For ex. quantity of vegetables purchased per day by your mother is an individual demand for vegetables.	Total quantity of a commodity that all the households are willing to buy at a given price during a given period of time. For ex. quantity of vegetables purchased per day by all the buyers is market demand for vegetables.
2) Ex ante Demand	Ex post Demand
Refers to the amount of goods that consumer want to or willing to buy during a particular time period. It is the planned or desired amount of demand.	Refers to the amount of goods that consumer actually purchase during a specific period.
For example. you want to buy a 4bhk house by the end of this year, that is your ex ante demand but due to non availability you end up buying a 3bhk house during this period, this is your actual purchase or ex post demand. Thus what you wish to buy is not the same what you actually purchase. Consumers may end up buying lesser or more quantity of goods that they had planned to buy.