Which of the Following Best Illustrates the Concept of Derived

question 211

Multiple Choice

Which of the following best illustrates the concept of derived demand?

• A)The number of retail stores in a downtown area decreases even though demand for retail goods increases.
• B)An increase in the number of new,single-family homes results from a spike in the gross national product.
• C)A Chinese plastics company increases its output because of its customers' higher toy exports to the United States.
• D)A heat wave results in an increased demand for air conditioners.
• E)Honda reducing its car prices causes GM to do the same.

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Definitions:

Mass Media

Forms of communication, such as newspapers, magazines, radio, television, and the internet, that reach large audiences simultaneously.

Protestant Reformation

A movement in the 16th century that led to the creation of new Christian denominations separate from the Catholic Church, initiated by figures like Martin Luther and John Calvin.

Democratic Movements

Collective efforts and organizations that advocate for democracy, including the promotion of democratic governance, free elections, and human rights.

Technological Revolution

A period of rapid technological change that fundamentally alters the social, economic, or cultural condition of society.