What is meant by derived demand of a factor?

Question

23 Dec 2024

Answer :

Word Count : 284

Derived demand of a factor refers to the demand for a factor of production, such as labor, land, or capital, that arises not because of the factor's own intrinsic value, but because of the demand for the goods or services that it helps produce. In other words, ______ _____ _____ ______ _______ ________.
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