Why is the demand for labour different from the demand for final goods and services?
A)The demand for labour is derived from the demand for the good or service the labour is used to produce.
B)It is a demand for people, not inanimate objects.
C)The demand for labour is more inelastic than the demand for the goods and services produced with this labour.
D)The law of demand does not apply to the demand for labour.

Question

Quizplus · Accepted Answer

The demand for labour is derived from the demand for the goods and services that labour is used to produce, whereas the demand for final goods and services refers to the amount of demand for the finished products themselves. The demand for labour is dependent on the level of demand for the products or services that the labour is used to produce, and can fluctuate based on changes in the demand for the final product.

Why Is the Demand for Labour Different from the Demand