Derived Demand Refers to

question 172

Multiple Choice

Derived demand refers to

• A)a graph relating the quantity sold and price,which shows the maximum number of units that will be sold at a given price.
• B)the demand for industrial products and services that is driven by the demand for consumer products and services.
• C)the relationship between total revenue and total cost to determine profitability at various levels of output.
• D)the point on a demand curve where supply and demand intersect.
• E)the percentage change in quantity demanded relative to a percentage change in price.

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Definitions:

Strike Capability

The ability of workers or a labor union to carry out a strike effectively in pursuit of their demands.

Interest Arbitration

A dispute resolution method where an impartial arbitrator makes binding decisions on labor-management disputes, especially during collective bargaining.

Plant Closings

The process of shutting down manufacturing facilities or plants, often leading to job losses and economic impacts on communities.

Surface Bargaining

A term used in labor relations to describe negotiations between a union and employer that are not intended to reach a meaningful agreement.