The fact that the demand for business products depends a lot on the demand for final consumer products is called:
A) primary demand.
B) derived demand.
C) diminishing demand.
D) elastic demand.
E) secured demand.

Question

Quizplus · Accepted Answer

Derived demand refers to the fact that the demand for business products is derived from the demand for final consumer products. For example, if there is a high demand for smartphones, there will be a higher demand for the components and materials needed to produce them.

The Fact That the Demand for Business Products Depends a Lot