Home » Economics » Economics miscellaneous » Question

Economics miscellaneous

  1. The demand for labour is called
    1. Market demand
    2. Direct demand
    3. Derived demand
    4. Factory demand
Correct Option: C

The demand for labour is “derived” from the production and demand for the product being demanded. If the demand for the product increases, either the price will increase or the demand for production labour will increase until the equilibrium price and production numbers are met. Labour is “derived” from the market demand for the product.



Your comments will be displayed only after manual approval.