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Fill in the Blank with Appropriate Alternatives Given Below: Indirect Demand is Also Known as _____________ Demand. - Economics

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Question

Fill in the blank with appropriate alternatives given below:

Indirect demand is also known as _____________ demand.

  • derived

  • direct

  • composite

  • joint

Solution

Indirect demand is also known as derived demand.

Explanation:

When goods are demanded so that they can be used in the production of some other commodity, it is called indirect or derived demand. In other words, such demand is derived as a result of the demand/consumption of some other commodity. Cement, for example, has indirect/derived demand as a result of demand for construction of buildings.

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APPEARS IN

 Micheal Vaz Solution for Micheal Vaz Class 12 Economics (2019 to Current)
Chapter 3: Demand Analysis
Exercise | Q: 1.5 | Page no. 24

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Solution Fill in the Blank with Appropriate Alternatives Given Below: Indirect Demand is Also Known as _____________ Demand. Concept: Demand.
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