Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
The demand for goods and services
B
The supply of labor
C
The level of wages
D
Government regulations
Understanding the Answer
Let's break down why this is correct
Answer
Derived demand for labor means that the need for workers depends on the demand for the goods and services they help produce. This concept is based on the idea that if more people want to buy a product, companies will need to hire more workers to make that product. For example, if there is a sudden increase in demand for bicycles, a bicycle factory will need to employ more workers to meet this demand. Therefore, the number of jobs available in that factory is directly linked to how many bicycles customers want to buy. In short, derived demand for labor is closely tied to the overall demand for products and services in the market.
Detailed Explanation
Derived demand for labor comes from the need for goods and services. Other options are incorrect because Some might think that the number of workers available decides demand; People might believe that how much workers are paid drives demand.
Key Concepts
Derived demand
Topic
Derived Demand for Labor
Difficulty
easy level question
Cognitive Level
understand
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