Question
An Increase in the need for wood because of the increase
in the need for furniture is the example ofSolution
Derived demand is defined as when the want for one good or service happens because of the want for another good or service.
More Economics Questions
The monthly amount spent on loan instalments is what percent of his household expenses?
What will be the Profit of Anuj is approximately what percent of total profit?
What is the total of the monthly amount Mr. Sumit spends on his family and the monthly amount he spends on other households expenses?
Suppose profit at the end of the year is Rs. 537000, then what will be the difference between profit share of Binod and Chintu is?
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