What does derived demand mean?

Definitions for derived demand
de·rived de·mand

Here are all the possible meanings and translations of the word derived demand.

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  1. Derived demand

    Derived demand is a term in economics, where demand for a factor of production or intermediate good occurs as a result of the demand for another intermediate or final good. In other words, if the demand for a good such as wheat increases, then the productivity increases, which leads to an increase in labour. This may occur as the former is a part of production of the second. For example, demand for coal leads to derived demand for mining, as coal must be mined for coal to be consumed. As the demand for coal increases, so does its price. The increase in price leads to a higher demand for the resources involved in mining coal. And therefore: Where MRP is the marginal revenue product of labor, MPP is the marginal physical product of labor, and P is the price of the physical product of labor. Demand for transport is another good example of derived demand, as users of transport are very often consuming the service not because they benefit from consumption directly, but because they wish to partake in other consumption elsewhere. Derived demand applies to both consumers and producers. Producers have a derived demand for employees. The employees themselves are not demanded; rather, the skills and productivity that they bring are.

How to pronounce derived demand?

  1. Alex
    Alex
    US English
    Daniel
    Daniel
    British
    Karen
    Karen
    Australian
    Veena
    Veena
    Indian

How to say derived demand in sign language?

  1. deriveddemand

Numerology

  1. Chaldean Numerology

    The numerical value of derived demand in Chaldean Numerology is: 5

  2. Pythagorean Numerology

    The numerical value of derived demand in Pythagorean Numerology is: 9

Images & Illustrations of derived demand

  1. derived demandderived demandderived demandderived demandderived demand


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"derived demand." Definitions.net. STANDS4 LLC, 2019. Web. 19 Oct. 2019. <https://www.definitions.net/definition/derived+demand>.

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