Podcast
Questions and Answers
Which term describes the demand for a good arising from the demand for another related good or service?
Which term describes the demand for a good arising from the demand for another related good or service?
- Composite demand
- Derived demand (correct)
- Joint demand
- Cross-demand
What is the relationship between the demand for cars and fuel, as described in the text?
What is the relationship between the demand for cars and fuel, as described in the text?
- They have no relationship
- They have a complementary relationship (correct)
- They have a direct relationship
- They have an inverse relationship
In what scenario would an increase in demand for one use of a good lead to a decrease in availability for other users?
In what scenario would an increase in demand for one use of a good lead to a decrease in availability for other users?
- Composite demand (correct)
- Cross-demand
- Joint demand
- Derived demand
Why do employers demand labor according to the text?
Why do employers demand labor according to the text?
Which industry's demand for raw materials is derived from the demand for final products?
Which industry's demand for raw materials is derived from the demand for final products?
What happens when there is an increase in demand for steel in a specific sector, according to the text?
What happens when there is an increase in demand for steel in a specific sector, according to the text?
What does individual supply refer to?
What does individual supply refer to?
What is market demand?
What is market demand?
What does supply represent?
What does supply represent?
What is the essence of joint demand?
What is the essence of joint demand?
Which of the following best describes market supply?
Which of the following best describes market supply?
In economics, demand refers to __________.
In economics, demand refers to __________.
