Which of the following best reflects the idea of derived demand?
A. Product demand is determined by the demand for resources.
B. The demand for automobiles will decline if the price of gasoline goes up.
C. Economic resources are demanded because there is a demand for the goods they produce.
D. The dollar votes of consumers determine the composition of output.
Answer:C
Which of the following best reflects the idea of derived demand?
A. Product demand is determined by the demand for resources. B. The demand for automobiles will decline if the price of gasoline goes up. C. Economic resources are demanded because there is a demand for the goods they produce. D. The dollar votes of consumers determine the composition of output.