Input Demand Is Called Derived Demand Because

question 13

Multiple Choice

Input demand is called derived demand because

• A)demand for an input is derived from demand for the product or service it produces.
• B)demand for an input is derived from its availability in the input market.
• C)demand for the output produced is also derived from consumer demand.
• D)input demand actually determines how much output is produced.

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Definitions:

Contract Rescission

The legal cancellation or termination of a contract, returning all parties to their positions prior to the agreement.

Equitable Remedy

A remedy granted by courts in situations where money damages are inadequate, involving actions like injunctions or specific performance.

Mistake

An erroneous belief about the facts of a contract at the time the contract is concluded. When a mistake occurs, legal assent is absent.

Material Effect

A significant impact or change on a company's operations, financial condition, or future prospects.