Asked by
Maryam Dughmush
on Oct 12, 2024Verified
Derived demand is a demand for
A) final goods and services.
B) products.
C) resources.
D) goods produced by perfect competitors.
E) goods produced by imperfect competitors.
Derived Demand
The demand for a good or service that results from the demand for a different, or intermediate, good or service.
Resources
Assets, materials, and human capabilities used to produce goods and services in an economy.
Final Goods
Refers to products that have completed the manufacturing process and are purchased by consumers without further processing.
- Illustrate the relevance of derived demand in both the labor market and various other factor markets.
Verified Answer
JA
Learning Objectives
- Illustrate the relevance of derived demand in both the labor market and various other factor markets.