The Demand for Any Factor of Production in a Competitive

question 67

Multiple Choice

The demand for any factor of production in a competitive industry depends on

• A) its productivity and upon the value of its output in the marketplace.
• B) its productivity and the productivity of all other inputs.
• C) the productivity of all the other inputs and how these inputs are valued in the marketplace.
• D) the amount of the factor that is used and the amounts of all the other factors that are used.

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Definitions:

Adolescents

Young people transitioning from childhood to adulthood, typically ranging in age from 13 to 19 years.

Extrinsic Motivation

The drive to perform actions based on external rewards or to avoid negative outcomes, rather than for intrinsic satisfaction.

Intrinsic Motivation

The drive to engage in activities for their own sake, for the enjoyment or satisfaction derived from the activity itself, rather than for external rewards.

Tangible Rewards

Physical items or rewards given to individuals, often children or employees, as a way to acknowledge and reinforce positive behaviors or achievements.