what is meant by deriver demand of a factor.
Answer (1)
19th Apr, 2020
Hello aspirant
It is an economical word The term was first introduced by Alfred Marshall in his principles of Economics
. Derived demand for a factor of production or intermediate good that occurs as a result of the demand for another intermediate or final good. The demand for say a factor of production by a firm is dependent on the demand by consumers for the product produced by firm.
It is demand for some physical or intangible thing where a market exists for both related goods and services.
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