Asked by Alpha Drone on Jun 08, 2024
Verified
An increase in the demand for HDTV sets leads to an increase in demand for LCD and LED TV screens. This situation arises because
A) LCD and LED screens minimize the costs of production.
B) the supply of LCD and LED screens has decreased.
C) the demand for LCD and LED screens is a derived demand.
D) of foreign production of LCD and LED screens.
Derived Demand
The demand for a factor of production or intermediate good that results from the demand for another good or service.
LCD Screens
Liquid Crystal Display screens, a technology used in monitors, televisions, and mobile devices for displaying images, utilizing liquid crystals to control light passage.
LED Screens
Display technology using light-emitting diodes as pixels for video display, known for their brightness, energy efficiency, and thin profiles.
- Recognize the impact of changes in product demand on the demand for resources used in production.
Verified Answer
OD
Ornella DeligioJun 13, 2024
Final Answer :
C
Explanation :
The demand for LCD and LED screens increases as a result of their use in HDTV sets, making it a case of derived demand. Derived demand occurs when the demand for one good or service happens as a result of the demand for another.
Learning Objectives
- Recognize the impact of changes in product demand on the demand for resources used in production.