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

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

Quizplus · Accepted Answer

Labor is a derived demand because it is only demanded as a means to produce a good or service. In other words, businesses hire workers to produce goods or provide services to meet the demand of consumers.

Demand for Labor Is