When Economists Say That the Demand for Labor Is a Derived

question 134

Multiple Choice

When economists say that the demand for labor is a derived demand, they mean that it is

• A) dependent on government expenditures for public goods and services.
• B) related to the demand for the product or service labor is producing.
• C) based on the desire of businesses to exploit labor by paying below equilibrium wage rates.
• D) based on the assumption that workers are trying to maximize their money incomes.

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Definitions:

Allocate Sufficient Resources

To distribute adequate amounts of resources or materials (such as time, money, or manpower) to complete tasks or achieve goals effectively.

Agreements Over Goals

The consensus or mutual understanding reached among members of a team or an organization regarding the objectives and targets to be achieved.

Delegating Style

A leadership approach characterized by assigning responsibility and authority to subordinates while maintaining accountability.

Initiating Structure

Leadership behavior that emphasizes task organization, assignment, and completion, focusing on defining role responsibilities.