The Demand for a Factor of Production Depends on The

question 96

Multiple Choice

The demand for a factor of production depends on the:

• A) supply of the factor.
• B) supply of other factors of production.
• C) demand for other factors of production.
• D) demand for the products that it helps to produce.

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Definitions:

Triadic Reciprocal Model

A theory proposed by Albert Bandura that human behavior is determined by the interaction between personal factors, behavior, and the environment.

Behavior

Actions or reactions of an individual or group in response to external or internal stimuli.

Distinctiveness

The quality of being noticeably different or unique compared to others.

Consensus

A general agreement among the members of a group or a decision-making process where all participants support or accept the decision made.