Which of the following factors have a derived demand? i. Labour
Ii) Capital
Iii) Raw materials

Name: Which of the following factors have a derived demand? i. Labour Ii) Capital Iii) Raw materials
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Question

Quizplus · Accepted Answer

Derived demand refers to the demand for goods and services that arises not from the goods themselves, but from the goods or services they produce. Labour, capital, and raw materials all have a derived demand because they are needed to produce other goods and services.

Which of the Following Factors Have a Derived Demand? I