When Is the Derived Demand for Labor More Inelastic

question 65

Multiple Choice

When is the derived demand for labor more inelastic?

• A) If a given type of labor is essential in the production of the final products
• B) If the market demand for the final products is elastic
• C) If the cost of labor is a significant part of the total product cost
• D) If the supply of materials is elastic

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Definitions:

Autotrophs

Organisms that can produce their own food from inorganic substances using light (photosynthesis) or chemical energy (chemosynthesis).

Heterotrophs

Organisms that cannot synthesize their own food and rely on other organisms — either plants or animals — for nutrition.

Nutrient

Substances obtained from food necessary for growth, metabolism, and for other body functions.

Ecosystem

Biological community together with the associated abiotic environment; characterized by a flow of energy and a cycling of inorganic nutrients.