Describe the derived demand.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 14, Problem 1QR

To determine

Describe the derived demand.

Expert Solution & Answer

Explanation of Solution

Derived demand is an increased demand for factors of production due to an increase in the demand for the product. The derived demand is not a direct consumer demand, but the demand derived from the increasing consumer’s demand in a particular commodity. Also, this increased demand in consumer good will ultimately increase the demand for its factor of production.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 2

Question

Chapter 14, Problem 1QR

To determine

Describe the derived demand.

Expert Solution & Answer

Explanation of Solution

Derived demand is an increased demand for factors of production due to an increase in the demand for the product. The derived demand is not a direct consumer demand, but the demand derived from the increasing consumer’s demand in a particular commodity. Also, this increased demand in consumer good will ultimately increase the demand for its factor of production.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 14, Problem 1QR

To determine

Describe the derived demand.

Expert Solution & Answer

Explanation of Solution

Derived demand is an increased demand for factors of production due to an increase in the demand for the product. The derived demand is not a direct consumer demand, but the demand derived from the increasing consumer’s demand in a particular commodity. Also, this increased demand in consumer good will ultimately increase the demand for its factor of production.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 14, Problem 1QR

To determine

Describe the derived demand.

Expert Solution & Answer

Explanation of Solution

Derived demand is an increased demand for factors of production due to an increase in the demand for the product. The derived demand is not a direct consumer demand, but the demand derived from the increasing consumer’s demand in a particular commodity. Also, this increased demand in consumer good will ultimately increase the demand for its factor of production.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 14, Problem 1QR

To determine

Describe the derived demand.

Expert Solution & Answer

Explanation of Solution

Derived demand is an increased demand for factors of production due to an increase in the demand for the product. The derived demand is not a direct consumer demand, but the demand derived from the increasing consumer’s demand in a particular commodity. Also, this increased demand in consumer good will ultimately increase the demand for its factor of production.

Answer 6

Chapter 14, Problem 1QR

To determine

Describe the derived demand.

Expert Solution & Answer

Explanation of Solution

Derived demand is an increased demand for factors of production due to an increase in the demand for the product. The derived demand is not a direct consumer demand, but the demand derived from the increasing consumer’s demand in a particular commodity. Also, this increased demand in consumer good will ultimately increase the demand for its factor of production.

Answer 7

Chapter 14, Problem 1QR

To determine

Describe the derived demand.

Answer 8

Expert Solution & Answer

Explanation of Solution

Derived demand is an increased demand for factors of production due to an increase in the demand for the product. The derived demand is not a direct consumer demand, but the demand derived from the increasing consumer’s demand in a particular commodity. Also, this increased demand in consumer good will ultimately increase the demand for its factor of production.