Demand for a Given Item Is Said to Be Dependent

question 55

Multiple Choice

Demand for a given item is said to be dependent if:

• A)it originates from the external customer.
• B)there is a deep bill of material.
• C)the finished products are mostly services (rather than goods).
• D)there is a clearly identifiable parent.
• E)the item has several children.

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Definitions:

Preferences

The subjective tastes and desires that influence individuals' choices between different goods, services, or actions.

Buyers

Individuals or entities that purchase goods or services.

Income

The total amount of money or value received by an individual or entity, typically over a specific period, from various sources such as wages, investments, or sales.

Decrease in Demand

A reduction in consumers' willingness or ability to buy a product at any given price.