The Demand for an Input Is Called a Derived Demand

question 110

Multiple Choice

The demand for an input is called a derived demand because

• A)employers of inputs,particularly labor,derive income from using inputs.
• B)employers derive satisfaction from giving employment to an input.
• C)the demand for output is derived from the demand for the inputs used to produce it.
• D)it arises from the demand for the output that the input is used to produce.

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Definitions:

Crystallized Intelligence

The ability to use learned knowledge and experience, which tends to increase with age.

Fluid Intelligence

The ability to think and reason abstractly, solve problems, and identify patterns, independent of accumulated knowledge.

General Intelligence

The concept of a common intelligence that influences an individual's performance on various cognitive tasks.

Triarchic Theory

A theory of intelligence proposed by Robert Sternberg, suggesting that human intelligence comprises analytical, creative, and practical dimensions.