A Change in Labor Demand Will Result from a Change

question 177

True/False

A change in labor demand will result from a change in the demand for the final product, a change in technology, and a change in the price of the labor.

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Definitions:

Trialability

The extent to which a potential customer can examine the merits of a new product without having to spend a lot of money or time doing so.

Return-On-Investment

A financial metric used to measure the likelihood of gaining a return from an investment relative to its cost.

Time Constraints

The limitations on the amount of time available to complete a task or project.

Budget Constraints

Financial limitations that restrict the amount of money available for spending and investment.