Asked by
Tania White
on Oct 12, 2024Verified
The demand for goods and services is called ____ demand,while the demand for resources is called ____ demand.
A) derived;derived
B) final;final
C) final;derived
D) derive;final
Derived Demand
Demand for resources derived from demand for the final product.
Final Demand
The demand for finished products by consumers, businesses, and the government, without any further processing or transformation.
Goods and Services
Represents the output of an economy, where goods are physical items and services are activities provided by others for benefit or pleasure.
- Identify the relationship between the demand for goods and services (final demand) and the demand for resources (derived demand).
Verified Answer
KW
Learning Objectives
- Identify the relationship between the demand for goods and services (final demand) and the demand for resources (derived demand).