Which of the Following Best Illustrates the Concept of Derived

question 183

Multiple Choice

Which of the following best illustrates the concept of derived demand?

• A)As income rises, the demand for TVs rises.
• B)A fall in the price of cameras will increase the demand for film.
• C)A fall in the demand for tires will reduce the demand for rubber.
• D)When the price of gasoline rises, the demand for automobile repair falls.
• E)If consumers expect the price of coffee to rise, demand for coffee rises.

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Definitions:

Minority Groups

Social groups that are differentiated from the majority in a society through cultural, ethnic, racial, or religious characteristics.

Highly Cohesive

Highly cohesive describes a group or material that sticks together strongly, in social contexts referring to a group closely united in purpose or function.

Strategic Planning

The process of defining a direction for an organization by setting goals, determining actions to achieve the goals, and mobilizing resources to execute the actions.

External Threat

A danger or risk stemming from the environment outside of oneself or one's organization.