which of the following has a derived demand?

Assessment: WAEC SSCE - Economics - 1997 (Objective) Subject: Economics

Question 1 Report

which of the following has a derived demand?
Answer Details
Labour has a derived demand. This means that the demand for labour is not for its own sake, but for the goods or services it helps to produce. For example, a bakery may demand labour to produce bread, but it is not the labour that is desired, but the bread that the labour produces. The demand for labour is thus derived from the demand for the goods or services that it helps to produce.
Read lesson note on The Theory Of Demand (JAMB)
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