Samsung Uses Microchips to Use in Its Smart Phones

question 99

Multiple Choice

Samsung uses microchips to use in its smart phones.The demand for these particular microchips is linked to the demand for Samsung's smart phones; the more smartphones are sold the greater the demand for microchips.What term best describes this particular situation?

• A)joint demand
• B)economic demand
• C)elastic demand
• D)inelastic demand
• E)derived demand

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Definitions:

International Trade Disputes

Conflicts that arise between countries or businesses in different countries regarding the exchange of goods, services, and intellectual property.

Trade Negotiations

The process where countries or organizations discuss and agree on the terms of trade between them, including tariffs and trade barriers.

Distributor

An entity that buys products in bulk from manufacturers and sells them to retailers or directly to consumers.

Foreign Market

A marketplace outside a company's home country where it can engage in trade or investment, offering opportunities for growth but also posing challenges like cultural and legal differences.