Derived Demand Is Directly Determined By

question 28

Multiple Choice

Derived demand is directly determined by:

• A) utility.
• B) the profitability of using inputs to produce output.
• C) the ability to satisfy consumer desires.
• D) personal consumption.

---

Definitions:

Revised Article 3

Pertains to updates or changes made to Article 3 of the Uniform Commercial Code, primarily dealing with negotiable instruments.

UCC

The Uniform Commercial Code comprises an extensive set of rules that apply to all commercial dealings in the United States.

Negotiable

A term describing instruments or documents, such as checks or bills of lading, that are transferable from one person to another in good faith for value.

Contract Law

The area of law that governs the making, enforcement, and interpretation of agreements between parties.