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BartSMP [9]
2 years ago
8

When economists say that the demand for labor is a derived demand, they mean that it is Group of answer choices dependent on gov

ernment expenditures for public goods and services. related to the demand for the product or service labor is producing. based on the desire of businesses to exploit labor by paying below equilibrium wage rates.
Business
1 answer:
Katen [24]2 years ago
8 0

Answer:

related to the demand for the product or service labor is producing.

Explanation:

Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.

In Economics, there are four (4) main factors of production and these are;

I. Land.

II. Labor (working).

III. Capital resources.

IV. Entrepreneurship.

Labor refers to the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.

Generally, when these aforementioned factors of production are combined effectively and efficiently, they can be used for the manufacturing or production of goods and services to meet the unending requirements or needs of the consumers.

Typically, when economists say that the demand for labor is a derived demand, what they do really mean is that, this demand for labor is related to the demand by the consumers for the product or service labor is producing.

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3 years ago
Leupold &amp; Stevens, Inc., makes Leupold scopes for rifles and has introduced a new scope that has the quality and performance
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Penetration pricing

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2 years ago
Which of these statements is true about professional skills? A. They are only important in jobs that require a college degree. B
grigory [225]
D. They are skills that employers in all lines of work are looking for.
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3 years ago
An analyst needs to adjust the nominal GDP for the years 2000 and 2010 into real terms to conclude his comparison analysis. The
valentina_108 [34]

Answer:

The answer is: the real gain in real GDP between 2010 and 2000 is 18.34%

Explanation:

First we have to determine the real GDP using the GDP deflator.

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For year 2000:

24 = ($672 billion / real GDP ) x 100

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For year 2010:

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How old do you have to be to get a reverse mortgage
Murljashka [212]

Answer: Minimum 62 years

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