Which Example Best Illustrates the Concept of "Derived Demand

question 5

Multiple Choice

Which example best illustrates the concept of "derived demand"

• A)An increase in the wages of autoworkers will lead to an increase in the demand for robots in automobile factories.
• B)An automobile producer's decision to supply more cars will lead to an increase in the demand for automobile production workers.
• C)An automobile producer's decision to supply more minivans results from a decrease in the demand for station wagons.
• D)A decrease in the wages of autoworkers will lead to an increase in the demand for robots in automobile factories.

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Definitions:

Standpoint

A perspective or point of view arising from personal experiences, social position, or cultural background.

Circumstance

The conditions or facts affecting an event or situation, often beyond one's control.

Social Identity Model

A theoretical framework that explains how individuals form and maintain their social identity through group affiliation and categorization.

Implicit Personality Theory

The assumptions people make about how different types of personalities and traits are related and how they affect behavior and beliefs.