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JOINT DEMAND: Demand for two or more commodities that are either complements-in-consumption or complements-in-production. Joint demand results because two or more commodities are used together either to satisfy wants and needs or to produce goods and services. Because the commodities are used jointly, the demand for one good is necessarily based on the use and availability of another good. If, for example, you enjoy milk and brownies as complements-in-consumption, but the bakery is out of brownies, then your demand for milk is also likely to decline.
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DERIVED DEMAND The notion that the demand for a factor of production, or an input used in the production of a good, depends on the demand for the output being produced. This concept highlights the two key aspects of factor demand. One is that factor demand depends on the value of the good being produced. Inputs that produce more valuable outputs are themselves more highly valued. Two is that factor demand depends on the productivity of the input. Inputs that produce more output are themselves more highly valued.
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PINK FADFLY
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Today, you are likely to spend a great deal of time flipping through the yellow pages wanting to buy either a New York Yankees baseball cap or several magazines on home repairs. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
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"A people that values its privileges above its principles soon loses both. " -- Dwight Eisenhower, 34th US president
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