Day: August 21, 2017

Which ONE of the following is an example of a joint supply?

Select ONE answer:

1. A car is supplied with tyres from an external contractor
2. A retailer supplies both printers and print cartridges
3. The supply of labour is determined by the demand for a product
4. Sheep can be used for wool, meat and sheepskin
5. A computer supplied with microchips from a partner company

Give a definition and 3 examples of complimentary supply?
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This is multiple choice question is suitable for Economics KS5 classes.

The answer is 4 – A joint supply is an economic term referring to a product or process that can yield two or more outputs. Common examples occur within the livestock industry: cows can be utilized for milk, beef and hide; sheep can be utilized for meat, wool and sheepskin.

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