Demand for wet suits depends on consumers taking up scuba diving lessons and scuba diving holiday packages.This is an example of ________ demand.

Question

Quizplus · Accepted Answer

Derived demand refers to the demand for a product or service that results from the demand for another product or service. In this case, the demand for wet suits is derived from the demand for scuba diving lessons and holiday packages. The other options do not accurately describe this situation - fluctuating demand implies inconsistent demand patterns over time, joint demand refers to the demand for two or more products that are used together, contrived demand describes situations where demand is artificially created through marketing or other means, and leisure demand refers to the demand for products or services that are consumed for leisure or recreation.

Demand for Wet Suits Depends on Consumers Taking Up Scuba