The Demand for a Resource Is Derived from the

question 54

Multiple Choice

The demand for a resource is derived from the

• A) price of the resource.
• B) supply of the resource.
• C) supply of substitute resources.
• D) demand for the good or service that the resource is used to produce.
• E) supply of complement resources.

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Definitions:

Variable Costs

Costs that vary directly with the level of production or sales volume, such as raw materials and direct labor costs.

CIO's Salary

The compensation package awarded to a Chief Information Officer, reflecting responsibilities in overseeing an organization's technology strategy.

SaaS

Software as a Service; a software distribution model in which applications are hosted by a vendor or service provider and made available to customers over the internet.

PaaS

Platform as a Service, a cloud computing model that provides customers with a platform allowing them to develop, run, and manage applications without the complexity of building and maintaining the infrastructure typically associated with developing and launching an app.