A. textbook
B. labour
C. staple food
D. mobile phone
Correct Answer: Option B
B. labour
Explanation
Derived demand is an economic term describing the demand for a good/service resulting from the demand for an intermediate or related good/service. It is a demand for some physical or intangible thing where a market exists for both related goods and services in question.
Examples. Producers have a derived demand for employees. For another example, demand for steel leads to derived demand for steelworkers, as steelworkers are necessary for the production of steel. As the demand for steel increases, so does its price.
Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…
Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…
Sociology is the scientific study of human society, culture, and behavior. It examines the social…
Social Work is a profession dedicated to helping individuals, families, and communities to cope with…
Religious studies is an academic discipline that explores the beliefs, practices, and history of various…
Public administration is the field of study and practice that focuses on the organization and…