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Answer :
Final answer:
The increase in demand for automobiles leading to an increase in demand for materials to produce the cars is an example of derived demand. Derived demand is when the demand for one product leads to the demand for another.
Explanation:
The increase in demand for automobiles leading to a consequent increase in demand for the materials used to produce these automobiles exemplifies the principle of derived demand. Derived demand reflects how the demand for one good or service (like steel or other raw materials) can be tied to the demand for another (in this case, automobiles). The principle of derived demand is integral to understanding various market dynamics and supply chain relationships.
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