Questions
Single choice
During late summer and early fall, there is a large demand for shipping containers in Asia that are used to ship consumer goods to the United States in time for the holiday selling season. The demand for these containers is __________ demand.
Options
A.primary
B.derived
C.consumer
D.applied
E.secondary
View Explanation
Verified Answer
Please login to view
Step-by-Step Analysis
The scenario describes a situation in which the demand for a component (shipping containers in Asia) is driven by the demand for another product (consumer goods bound for the United States for the holiday season). This fits the concept of derived demand, where the need for inputs arises from the demand for......Login to view full explanationLog in for full answers
We've collected over 50,000 authentic exam questions and detailed explanations from around the globe. Log in now and get instant access to the answers!
Similar Questions
Heggood, Inc., a perfectly competitive firm, produces hats using capital and labor purchased in competitive factor markets. If the demand for hats increases, Heggood, Inc. will
Which of the following best illustrates the concept of derived demand?
Which statement best illustrates the concept of derived demand?
During late summer and early fall, there is a large demand for containers in Asia that are used to ship consumer products from Asia to the United States in time for the holiday selling season. The demand for these containers is referred to as ________ Blank demand.
More Practical Tools for Students Powered by AI Study Helper
Making Your Study Simpler
Join us and instantly unlock extensive past papers & exclusive solutions to get a head start on your studies!