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 Form 3 Business Studies: Demand and supply online lessons

Types of supply

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Answer Text:
Types of supply:
Joint supply
- This occurs when two or more commodities are supplied together. E.g beef and hides, timber and firewood.
Competitive supply:
-Occurs when the supply of one commodity leads to reduction in supply of another due to use of
similar factors of production.
Composite supply
-Occurs where a product is supplied from two different sources e.g lighting from solar, hydro and geothermal source.