In a Competitive Labour Market,an Increase in the Demand for Labour

question 92

Multiple Choice

In a competitive labour market,an increase in the demand for labour might be due to an increase in the

• A)supply of labour.
• B)wage rate.
• C)supply of the product that labour produces.
• D)demand for the product that labour produces.
• E)supply of the other factors.

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Definitions:

Metal Ores

Naturally occurring solid materials from which metals can be extracted profitably.

Research And Development

Research And Development (R&D) involves investigative activities that a business conducts to improve existing products and procedures or to lead to the development of new products and procedures.

Operating Expenses

The costs associated with running the day-to-day operations of a business, such as rent, utilities, and payroll.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset over its useful life, reducing its book value.