Asked by
janette moreno
on Oct 12, 2024
Verified
Which statement is true?
A) The terms "demand" and "derived demand" are interchangeable.
B) The demand for labor is a derived demand.
C) The demand for a final good or service is a derived demand.
D) The demand for imported clothing is a derived demand.
Derived Demand
The demand for a good or service that arises from the demand for another good or service. For example, demand for steel is derived from the demand for cars.
- Gain insight into the concept of derived demand and the differences it has with final demand.
Verified Answer
LB
Learning Objectives
- Gain insight into the concept of derived demand and the differences it has with final demand.