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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Other than the demand for labor, what would be another example of a "derived demand?”

To determine

Provide the examples of a derived demand.

Explanation

Derived Demand : It means that the demand for a commodity or a service depends on the demand for a related or an intermediate good/ service.

For example: The demand for labor is derived demand in the sense that labor demand depends upon the demand for goods and services in the market produced by the firm...

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