Asked by Melissa Jordan on Jun 12, 2024
Verified
The demand for ________ is a ʺderived demand.ʺ
A) hot chocolate on a cold day
B) U.S. Treasury bonds
C) a dog groomer by a grooming shop
D) hot dogs on the 4th of July
Derived Demand
The demand for a factor of production or intermediate good resulting from the demand for another good or service, such as the demand for steel being driven by the demand for automobiles.
U.S. Treasury Bonds
Long-term government debt securities issued by the U.S. Department of the Treasury, offering a fixed interest rate and guaranteed by the full faith and credit of the U.S. government.
Dog Groomer
A professional who provides cleaning and hygiene services for dogs, such as bathing, hair trimming, and nail clipping.
- Determine the indirect demand for inputs that is contingent on the demand for outputs.
Verified Answer
Learning Objectives
- Determine the indirect demand for inputs that is contingent on the demand for outputs.
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