A Determinant of the Demand for a Factor of Production

question 141

Multiple Choice

A determinant of the demand for a factor of production is the:

• A) price of the factor.
• B) marginal cost of the factor.
• C) productivity of the factor.
• D) quantity of the factor supplied.

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Definitions:

Belongingness

The human emotional need to be an accepted member of a group.

Esteem Needs

In Maslow's hierarchy of needs, these represent the human need for respect, self-esteem, and recognition from others.

Self-actualizing Individuals

People who have achieved the highest level of Maslow's hierarchy of needs, realizing their potential and possessing an ongoing appreciation for life and personal growth.

Reciprocal Determinism

A concept in psychology that suggests an individual's behavior is both influenced by and influences personal factors and the environment simultaneously.