When the Demand for Automobiles Is High,the Demand for Workers

question 316

Multiple Choice

When the demand for automobiles is high,the demand for workers who build automobiles is high.This relation between the market for automobiles and the market for the labor that builds automobiles is why demand in a factor market is called:

• A)the marginal productivity theory of income distribution.
• B)a compensating differential.
• C)the factor distribution of income.
• D)a derived demand.

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Definitions:

Flow of Costs

The movement and assignment of costs through a company's production processes to its products or services.

Process Costing System

Accounting methodology used for homogeneous products, calculating costs at each stage of the manufacturing process.

Mass-Produced

Items or products manufactured in large quantities using automated processes and standardized components, allowing for economies of scale.

Continuous Fashion

This typically means ongoing or uninterrupted, often used in contexts like operations or processes that do not stop or pause.