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:

Federal Government

The national government of a federated state, which shares sovereignty with the individual state or provincial governments.

Property Tax

A tax on the value of property, such as the value of a home.

Personal Taxes

Taxes levied on the income or property of individuals.

Personal Income

The total earnings of an individual from all sources before taxes, including wages, dividends, interest, and rents.