Demand for Inputs Is a Derived Demand Because

question 42

Multiple Choice

Demand for inputs is a derived demand because

• A)it is derived from the need for income.
• B)it corresponds to the derived supply of the inputs.
• C)producers want the input to produce the finished good.
• D)it is downward sloping.

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Definitions:

Span Of Control

Refers to the number of subordinates a manager or supervisor can directly control or oversee.

Staff Members

Employees or workers who contribute their skills and labor to an organization, forming the backbone of its operational force.

Organizational Structure

The framework within which an organization arranges its lines of authority and communications, and allocates rights and duties.

Duplicate Work

Replicating tasks or efforts unnecessarily, often leading to inefficiency and waste of resources.