What Is the Major Reason the Market Demand Curve for Labour

question 116

Multiple Choice

What is the major reason the market demand curve for labour slopes downward?

• A) because at lower wage rates, workers are more willing to supply labour to the market
• B) because at lower wage rates, workers are less willing to supply labour to the market
• C) because of the law of diminishing marginal product
• D) because of the law of diminishing marginal resource cost

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Definitions:

Diversification

A strategy of investing in a variety of assets to reduce overall risk.

Acquisition

The process of obtaining control of another company or asset through purchase or agreement.

Global Expansion

The strategic growth of a company beyond its home country, entering new markets to increase market share, diversify, and achieve economies of scale.

Growth Strategy

A strategy that involves expansion of the organization’s current operations.