What term describes the total demand for many business products that is minimally influenced by price changes?

The term that describes the total demand for many business products that is minimally influenced by price changes is derived demand. In the context of business-to-business transactions, derived demand refers to the demand for goods and services that arises not from the direct consumer demand but from the demand for the final products that those goods and services help to create.

For example, if there is a strong demand for automobiles, the demand for steel, rubber, and glass will increase, even if their prices change slightly. This illustrates that the demand for the materials (like steel and rubber) is derived from the demand for the end product (automobiles).

In contrast, inelastic demand describes a situation where demand changes very little despite price changes, but this term is typically used in a broader consumer context, focusing more on essential goods that consumers need regardless of price fluctuations. Elastic demand indicates that demand is highly responsive to price changes, which is not applicable in this case. Exchange demand is not a standard term used in this context and does not relate directly to the concept of demand influenced by other market factors.

Thus, derived demand accurately captures the notion that the demand for certain business products is influenced by the demand for other goods, rather than direct price influences.