Economy, asked by JinheeKim, 1 year ago

Justify the statement- "Demand for factors of production is a derived demand."

Answers

Answered by Anonymous

Explanation:

When demand changes due to the factors other than price, there is a shift in the whole demand curve. As mentioned above, apart from price, demand for a commodity is determined by incomes of the consumers, his tastes and preferences, prices of related goods.

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