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Derived demand

In economics, derived demand is demand for a factor of production or intermediate good that occurs as a result of the demand for another intermediate or final good. In essence, the demand for, say, a factor of production by a firm is dependent on the demand by consumers for the product produced by the firm. The term was first introduced by Alfred…

Products, Low elasticity of derived demand & Examples

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Low elasticity of derived demand

ElasticitySubstituteJohn HicksElasticity of substitution
4 related topics

Examples

Utility functionRevenue
2 related topics

Derived demand curve

Demand curve
1 related topics

Overview

EconomicsFactor of productionIntermediate goodFinal goodAlfred Marshall
7 related topics

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Overview

Examples

Derived demand curve

Low elasticity of derived demand

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Derived demand

Nodes19
Edges18
Triples22
Avg. degree1.89
Density0.105263
Components1

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Derived demand

Top relations

related to Derived demand curve · 7
Derived demand → Alfred Marshall, First, It, Its, Marshall’s, Second, The
related to Low elasticity of derived demand · 5
Derived demand → According, Furthermore, In, It, John Hicks
related to Examples · 4
Derived demand → For, Producers, The, Thus

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Important terminology

demand production derived factor elasticity good curve factors example another final goods low economics price supply product concept quantity increase

Entity relationships Subject–Predicate–Object triples

SubjectPredicateObjectConfidenceSrc
wheat increasesinstance ofif the demand for a good0.80text
then this leads to an increase in the demand for labourinstance ofif the demand for a good0.80text
as well as demand for other factors of production such as fertilizer.For another exampleinstance ofif the demand for a good0.80text
demand for steel leads to derived demand for steel workersinstance ofif the demand for a good0.80text
as steel workers are necessary for the production of steelinstance ofif the demand for a good0.80text
pleasure cruisesinstance ofexcept in cases0.80text
Derived demandrelated to Derived demand curveThe0.60section
Derived demandrelated to Derived demand curveAlfred Marshall0.60section
Derived demandrelated to Derived demand curveIt0.60section
Derived demandrelated to Derived demand curveFirst0.60section
Derived demandrelated to Derived demand curveSecond0.60section
Derived demandrelated to Derived demand curveMarshall’s0.60section

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