Which of the Following Is the Best Example of a Derived

question 41

Multiple Choice

Which of the following is the best example of a derived demand?

• A)A decrease in interest rates increases the demand for housing.
• B)An increase in the wage rate causes firms to substitute capital for labour.
• C)An increase in demand for cars will increase the demand for auto workers.
• D)A decrease in the price of internet connection will increase the demand for tablet computers.
• E)An increase in the price of butter increases the demand for margarine.

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Definitions:

Classes

Social strata that individuals are grouped into based on their socio-economic status, often determined by occupation, income, and education.

War Against The Poor

A concept describing systematic policies, practices, or attitudes perceived to disadvantage and target individuals or groups in lower socioeconomic classes.

Poverty

A state of financial insufficiency where individuals or groups cannot meet their basic needs for food, shelter, and health care.

Myths

Traditional stories or legends typically involving supernatural beings or events, which serve to explain natural or social phenomena, or cultural beliefs and values.