Demand for labor is
A)derived demand.
B)highly elastic.
C)dependant on its supply.
D)directly proportional to capital employed.

Name: Demand for labor is A)derived demand. B)highly elastic. C)dependant on its supply. D)directly proportional to capital employed.
Brand: Quizplus
Rating: 4.8 (36 reviews)

Question

Quizplus · Accepted Answer

Demand for labor is a derived demand because it depends on demand for the goods and services that labor produces. In other words, the demand for labor is driven by the demand for the product or service that the labor is used to produce.

Demand for Labor Is