The demand for labour depends on
I. technology.
II. the prices of other factors of production.
III. the price of the product.

Question

Quizplus · Accepted Answer

The demand for labor is influenced by technology, as advancements can either increase or decrease the need for labor; the prices of other factors of production, since a change in these prices can make labor more or less attractive in comparison; and the price of the product, because higher product prices can lead to higher demand for labor to increase production.

The Demand for Labour Depends on