Derived demand


Asked: 1 year, 8 months ago   |   Viewed: 1 time   |   Answers: 1 answer


What is derived demand?


Share |
Asked by: Samuel Torimiro | April 7, 2023, 2:53 p.m.

Answers


Derived demand is demand for a factor of production or intermediate good that occurs as a result of the demand for another intermediate or final goods. E g Demand for labour, there is demand for labor because of what it will contribute to the production process and not for its sake.


Answered by: Adetipe Toluwalope Adeleke | 1 year, 8 months ago

Answer this question