Derived Demand Refers to

question 155

Multiple Choice

Derived demand refers to

• A)the demand for consumer products and services that is driven by excess inventory of manufacturers, distributors, or suppliers.
• B)the demand for industrial products and services that is driven by demand for consumer products and services.
• C)the formula used to determine the greatest number of potential buyers based upon the lowest price they would be willing to pay.
• D)the point on a demand curve where supply and demand intersect.
• E)the formula used to determine which element of the marketing mix has the greatest impact on increases or decreases in demand.

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Definitions:

Organizational Levels

The hierarchical layers within an organization, structured according to authority, responsibility, and communication flow.

Downward Communication

The transmission of messages from higher to lower levels in an organization.

Lower Level

Refers to a position or status that is considered to be of lesser importance or rank within a hierarchy or structure.

Network of Contacts

A group of acquaintances, professionals, and colleagues that an individual can consult, cooperate with, or seek favors from in professional matters.