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Card 1 of 21

What is the definition of derived demand in the labour market?

A

Demand for a factor of production that comes from the demand for the final good or service it helps produce.

B

Demand for a factor of production that comes from the government’s need to reduce unemployment by encouraging firms to hire.

C

Demand for a factor of production that comes from the number of workers available in the labour market at each wage rate.

D

Demand for a factor of production that comes from the wage workers are willing to accept for helping to produce output.

Card 1 of 21

Demand for labour Flashcards

  1. A Level
  2. /Economics
  3. /Demand for labour

21 flashcards on OCR A Level Economics Demand for labour: the key terms, economic models and case studies you need to recall for Component 01, Component 02 and Component 03.

Flashcards