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Can anyone explain me, The demand for resources?​
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37 votes
Can anyone explain me, The demand for resources?​

User Prahlad Yeri
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13 votes

Answer:

Resource Demand Determinants. With all else equal, an increase in the demand for a product that uses a particular resource will also increase the demand for that resource; likewise, if demand for a product decreases, then the demand for the resource will also decrease. Hence, resource demand is a derived demand. When the demand for gasoline increases, then there will be greater demand for oil and vice versa, since oil is a major component of gasoline and one of its major uses.

Step-by-step explanation:

User BadSantos
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17 votes

Answer

demand for resources is determined (derived) by the products they help produce. The additional revenue generated by an additional worker (resource). In perfectly competitive product markets the MRP equals the marginal product of the resource times the price of the product.

User Jae Heon Lee
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