Asked by
Meagan Dobrowolski
on Oct 12, 2024Verified
Which statement is true?
A) Derived demand is the demand for resources.
B) Resources are measured by units of outputs.
C) Final demand is measured by units of inputs.
D) None of the statements are true.
Derived Demand
The need for a product or service resulting from the need for another product or service, like how the demand for cars drives the need for steel.
Final Demand
The demand for finished goods and services by consumers, businesses, and the government, excluding intermediate goods used in production.
- Learn about the notion of derived demand and how this contrasts with final demand.
Verified Answer
LD
Learning Objectives
- Learn about the notion of derived demand and how this contrasts with final demand.