The Demand for a Productive Resource, Not for Its Own

question 240

Multiple Choice

The demand for a productive resource, not for its own sake, but for use in the production of goods and services is called a

• A) goods and services demand.
• B) production demand.
• C) derived demand.
• D) resource demand.

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Definitions:

Budget Constraint

Represents the combination of goods and services that a consumer can purchase given their income and the prices of those goods and services.

Income

The monetary payment received for goods or services, or from investments, typically measured per period like annually or monthly.

Apples

A popular fruit cultivated worldwide, known for its variety in taste, color, and utility in both raw and cooked forms.

Bananas

A kind of extended, consumable fruit that comes from a range of big, herbaceous blooming plants belonging to the Musa genus.