Demand in Factor Markets Differs from Demand in Product Markets

question 238

Multiple Choice

Demand in factor markets differs from demand in product markets in that

• 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) demand for a factor of production is based on the tastes and preferences of firms.
• D) demand for a factor of production is based on the tastes and preferences of resource owners.

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Definitions:

Ashlar Masonry

A highly finished stone work where the stones are cut into uniform shapes and sizes, creating tight joints and a smooth overall appearance.

Flavian Portraits

Classical Roman sculptures known for realistic depictions of the Flavian dynasty's emperors and family members, marking a shift in Roman portraiture.

Republican Portraiture

Art form prevalent in the Roman Republic, focusing on realistic and often unidealized depictions of individuals, particularly in sculpture.

Divine Nature

The concept concerning the supernatural and heavenly aspects of a deity's essence and character.