BUSINESS ADMINISTRATION
INTERNATIONAL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The consumer
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The end user
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The demographics
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The end purchaser
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Detailed explanation-1: -In economics, derived demand is demand for a factor of production or intermediate good that occurs as a result of the demand for another intermediate or final good. In essence, the demand for, say, a factor of production by a firm is dependent on the demand by consumers for the product produced by the firm.
Detailed explanation-2: -Derived demand is related solely to the demand placed on a good or service for its ability to acquire or produce another good or service. Derived demand can be spurred by what is required to complete the production of a particular good, including the capital, land, labor, and necessary raw materials.
Detailed explanation-3: -Derived demand happens when the demand for a resource or intermediate good is determined by the demand for the final good. The chain of derived demand consists of three elements – raw materials, processed materials, and labor; higher demand for the final product will trickle down the chain.