which of the following is an example of derived demand
Answer Details
Labour is an example of derived demand.
Derived demand refers to the demand for a product or service that arises from the demand for another product or service. In the case of labour, the demand for workers arises from the demand for the goods or services they produce. For example, a factory may require a certain number of workers to produce a certain number of goods. The demand for those workers is therefore derived from the demand for the goods they produce.
In contrast, a textbook, staple food, or mobile phone are not examples of derived demand because they are products that are demanded directly by consumers, rather than being demanded as a result of the demand for another product or service.