What Are Some Different Types of Demand?

The main types of demand in economics are derived demand, composite demand, competitive demand and complementary or joint demand. The term "demand" refers to the amount of a product consumers are able and willing to purchase over a particular period of time, at a given price.

"Derived demand" refers to the relationship between factors of production and the finished service or product made available on the market. "Composite demand" refers to a product that has multiple uses and purposes. "Competitive demand" is a term that refers to the products that compete for sale, whereas "complementary demand" or "joint demand" occurs when more than one product is needed to meet a single demand.