Question
Bread and butter, car and petrol are examples of goods which have
Answer: Option D
Answer: (d)
Derived demand is a term in economics, where demand for one good or service occurs as a result of the demand for another intermediate/final good or service. This may occur as the former is a part of the production of the second.
For example, demand for coal leads to derived demand for mining, as coal must be mined for coal to be consumed.
As the demand for coal increases, so does its price.
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Answer: (d)
Derived demand is a term in economics, where demand for one good or service occurs as a result of the demand for another intermediate/final good or service. This may occur as the former is a part of the production of the second.
For example, demand for coal leads to derived demand for mining, as coal must be mined for coal to be consumed.
As the demand for coal increases, so does its price.
Was this answer helpful ?
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