The linkage between demand for a company's output and its purchases of resources such as machinery,components,supplies,and raw materials is referred to as a(n)_____.

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Derived demand refers to the relationship between the demand for a company's products and its purchases of resources. As demand for a company's products increases, it will need to purchase more resources to meet that demand. This makes the demand for resources derived from the demand for a company's products. Joint demand refers to two or more products that are used together in a single end use, while versatile demand refers to a product's ability to be used in multiple ways or applications. Inelastic demand refers to a situation where the quantity demanded for a product does not change significantly in response to a change in price.

The Linkage Between Demand for a Company's Output and Its