Derived demand

Asked: 1 year ago   |   Viewed: 1 time   |   Answers: 1 answer

What is derived demand?

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


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 ago

Answer this question