The Demand for Labour Is a Derived Demand Because It

question 7

Multiple Choice

The demand for labour is a derived demand because it is derived from

• A)the demand for the output the labour produces.
• B)the supply of labour.
• C)union pressure.
• D)natural law.
• E)years of accumulated capital and technological advances.

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Definitions:

Q2

The second quartile in a data set, also known as the median, which divides a data set into two equal halves.

Q3

The third quartile in a data set, representing the midpoint between the median and the highest value of the dataset.

Percentile Points

Values that divide a set of observations into 100 equal parts, often used to interpret scores in tests.

Distribution

The spread of values within a dataset, representing how often each value occurs.