Derived Demand Can Be Defined as Demand

question 30

Multiple Choice

Derived demand can be defined as demand:

• A) that is derived from supply.
• B) that is matched to consumer wants and needs.
• C) dependent on another source.
• D) that is volatile.
• E) for a basic good wanted for its own sake.

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Definitions:

Slave Labor

Work done under force or threat, without proper remuneration or consent, by individuals considered as property.

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The transformation from an agricultural-based economy to one dominated by industry and machine manufacturing, typically seen as a hallmark of economic development.

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Businesses based in New York that specialize in the transportation of goods and cargo across water bodies, significant in the development of global trade.

Frederick Douglass

An African-American social reformer, abolitionist, orator, writer, and statesman who after escaping from slavery in Maryland, became a national leader of the abolitionist movement.