Question

the demand for a resource is a derived demand. this is because multiple choice product demand cannot be predicted. resources have no use as they are. if there were no demand for input, there would be no demand for output. if there were no demand for output, there would be no demand for input.

Answer 1

Correct option is D, The demand for a resource is a derived demand if there were no demand for output, there would be no demand for input.

What is meant by derived demand?

A desire for a good or service that arises from the demand for a separate, or related, good or service is referred to as derived demand in economics. Derived demand only refers to the need for a good or service to be able to purchase or create another good or service.

Demand for a good or service that results from demand for another related good or service is known as derived demand. A case for a new smartphone that has just hit the market that is a particular size and configuration can be an example of derived demand.

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