Asked by Jazzy Asberry on May 30, 2024
Verified
The demand for a resource depends primarily on
A) the supply of that resource.
B) the demand for the product or service that it helps produce.
C) the price of that input.
D) the elasticity of supply of substitute inputs.
Resource Demand
The demand for inputs necessary for the production of goods and services.
- Grasp the concept of the demand for a resource and the factors it depends on.
Verified Answer
EW
Emily WillisMay 31, 2024
Final Answer :
B
Explanation :
The demand for a resource is primarily driven by the demand for the products or services that the resource helps to produce. If there is high demand for a product, the demand for the resources needed to produce that product will also be high.
Learning Objectives
- Grasp the concept of the demand for a resource and the factors it depends on.