Define the term ‘derived demand’

The demand for a good or service reulting from or leads to the demand for another good or service. 

LL

Related Economics A Level answers

All answers ▸

What is the difference between static and dynamic efficiency?


Why are no supernormal profits made in perfect competition in the long run?


In a perfectly competitive labour market, explain how equilibrium wages are determined by the forces of supply and demand.


What factors cause the aggregate demand curve to shift?