Labour markets are different from most product markets because labour demand is:

Question

Quizplus · Accepted Answer

Labour demand is derived from the demand for the goods and services that the labour is used to produce. This is different from product markets where demand is directly driven by consumer preferences and willingness to pay. Option A is incorrect as labour demand is not typically horizontal, Option B is incorrect as upward-sloping demand is more commonly seen in product markets, and Option D is incorrect as social needs may impact the demand for certain types of labour, but it is not the primary driver of labour demand as a whole.

Labour Markets Are Different from Most Product Markets Because Labour