The term _____ demand is used to refer to demand for factors of production because their demand is based on the demand for the good or service that they are used to produce.
A) inelastic
B) elastic
C) derived
D) aggregate

Question

Quizplus · Accepted Answer

Derived demand refers to the demand for factors of production (such as labor, raw materials) that arises from the demand for the final goods or services that these factors are used to produce.

The Term _____ Demand Is Used to Refer to Demand