The demand for ________ in a competitive industry depends on its productivity and upon how its product is valued in the marketplace.
A) only skilled labor
B) only unskilled labor
C) only labor in general
D) any factor of production

Question

Quizplus · Accepted Answer

The demand for any factor of production, including both skilled and unskilled labor, capital, and natural resources, depends on its productivity and the value of what it produces in the market. This principle applies broadly across competitive industries.

The Demand for ________ in a Competitive Industry Depends on Its