How Does Demand in Factor Markets Differ from Demand in Product

question 34

Multiple Choice

How does demand in factor markets differ from demand in product markets?

• A) The demand for a factor of production is difficult to determine.
• B) The demand for a factor of production is influenced by workers' productivity and by the producers' expected sales revenues, not by tastes and preferences of consumers.
• C) The demand for a factor of production is based on the tastes and preferences of firms.
• D) The demand for a factor of production is based on the tastes and preferences of resource owners.

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Definitions:

Ages

Different stages of human life categorized by chronological years.

Left Handedness

Refers to the preference of using the left hand for tasks such as writing and eating, typically related to brain hemisphere dominance.

Prevalent

Widely existing or occurring, often dominating in a particular area or field.

Girls

are female children and adolescents, defined biologically but also shaped by social and cultural factors.