The demand for a productive resource is said to be "derived" because the demand for the factor:
A. Depends on the demand for the product it helps to produce
B. Depends on the demand for a complementary factor
C. Is derived from the state of the economy
D. Is derived from government policy
A. Depends on the demand for the product it helps to produce
You might also like to view...
A price ceiling in the market for gasoline that is below the equilibrium price will lead to
A) the quantity demanded of gasoline exceeding the quantity supplied. B) an increase in the demand for gasoline. C) a decrease in the supply of gasoline. D) the quantity supplied of gasoline exceeding the quantity demanded. E) no change in the market since the price ceiling is below the equilibrium price.
Suppose that because of unseasonably cold weather in Florida, a significant portion of the orange crop has been lost to freezing temperatures. This statement means that
A) the demand for oranges will rise. B) the equilibrium quantity of oranges will rise. C) the amount of oranges available at various prices will decline. D) the price of oranges will fall.