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ankoles [38]
3 years ago
10

A demand for a product or resource because of its contribution to the final product is called

Business
1 answer:
tino4ka555 [31]3 years ago
8 0

Answer:

Derived demand

Explanation:

Derived demand occurs when a good is requested not for benefits they directly provide, but for their contribution to another product.

For example capital, land, labour, and raw materials are demanded for their role in producing a final product.

So they can be seen as goods that have derived demand.

When they demand for the final product increases the good that has derived demand also increases, and vice versa.

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Test marketing, the consumers don’t even know it’s being tested
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Fixed cost per unit is inversely proportional to the volume of units produced.
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True. Fixed cost per unit is inversely proportional to the volume of units produced.

Fixed costs per unit are inversely proportional to the volume produced because depending on the amount of units made, the amount spent on fixed costs is then based. Because they are related to one another, this statement is true.  
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The English economist David Ricardo argued that Group of answer choices None of the answers is correct grain prices were high be
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Answer:

land rents were high because grain prices were high..

Explanation:

grain prices were high because land rents were high.

land rents were high because grain prices were high.

grain prices were high because land rents were low.

land rents were high because grain prices were low.

none of the above

David Ricardo was a classical economist known for various economic theory. Some of his theories include :

  1. Labour Theory of Value
  2. Ricardian Equivalence
  3. Theory of comparative advantage
  4. Theory of rent

Theory of rents

David Ricardo defined rest as the part of the produce of an agricultural land that is paid to the landowner for the use of the land.  He postulated that  benefits of an increase in prices of grain accrue to land owners in the form of rent

He used this theory to answer a question that arose during the Napoleonic wars (18.05-1815)  when there was a great increase in corn and land prices. The question was : Did the rise in land prices raise the price of corn or did the high price of corn increase the demand for land and led to an increase in the price of land ?

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3 years ago
Bering rock acquires a granite quarry at a cost of $590,000, which is estimated to contain 200,000 tons of granite and is expect
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3 years ago
A. M&amp;R Company provided $2,000 in services to customers that are expected to pay the company sometime in January following t
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Answer and Explanation:

The Journal entries are shown below:-

a. Accounts receivable Dr, $2,000  

          To Service revenue $2,000

(Being service revenue is recorded)

b. Wages expenses Dr, $1,000  

          To Wages payable $1,000

(Being wage expenses is recorded)

c. Interest expenses Dr, $400  

    To Interest payable $400

(Being interest expenses is recorded)

d. Lawn service expenses $500  

    To Accounts payable $500

(Being lawn service expenses is recorded)

e. Interest receivable $200  

     To Interest revenue $200

(Being interest revenue is recorded)

f. Salaries expenses $900  

     Salaries payable $900

(Being salary expenses is recorded)

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