The demand for labor (and other inputs),not as ends in themselves but as means to produce other things,is called ________ demand.

Question

Quizplus · Accepted Answer

Derived demand refers to the demand for labor and other inputs that is derived from the demand for the goods and services that those inputs help to produce. In other words, the demand for labor is not valuable in and of itself, but rather as a way to produce something else that is valuable. This is a key concept in understanding how labor markets work and how the wages of different types of workers are determined.

The Demand for Labor (And Other Inputs),not as Ends in Themselves