Because the Demand for a Resource Is Highly Dependent Upon

question 140

Multiple Choice

Because the demand for a resource is highly dependent upon the demand for the final goods that the resource helps produce, the demand for a resource is called a(n)

• A) derived demand.
• B) independent demand.
• C) declining proportions demand.
• D) elastic demand.

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Definitions:

Personal Communication

Direct interaction between individuals, allowing for the exchange of information or ideas.

Prospective Customer

An individual or organization that could potentially purchase a product or service but has not yet done so.

Needs

Basic or necessary desires or requirements essential for an individual's well-being or the effective functioning of a system.

Conceptual Skills

The ability to see the selling process as a whole and the relationship among its parts.