The Demand for Factor Is Driven by the Demand for Goods

question 158

Multiple Choice

The demand for factor is driven by the demand for goods and services produced by that factor of production. This phenomenon is referred to as

• A) elastic demand.
• B) joint demand.
• C) inverse demand.
• D) derived demand.

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Definitions:

Prejudiced Employer

An employer who discriminates against potential or current employees based on personal biases unrelated to the job performance.

Disutility

The negative satisfaction or pleasure derived from consuming a product or experiencing a service, opposite of utility.

Discrimination Coefficient

A quantitative measure in statistics that assesses the discriminating power of a variable in differentiating between two or more groups.

Nonpreferred Workers

Employees or workforce segments considered less favorable for hiring, often due to biases or stereotypes, not necessarily related to their skills or abilities.