The Demand for Labor Is Described as a Derived Demand

question 25

Multiple Choice

The demand for labor is described as a derived demand because

• A)it is derived by workers seeking to earn income to fund the consumption of goods and services.
• B)it is derived by producers seeking to make profits by starting new businesses.
• C)it is derived from the demand for products that use labor in the production process.
• D)it is derived from government institutions which rely on labor markets for the purpose of raising tax revenue.

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Definitions:

Equality Norm

A principle that advocates for equal treatment and fairness among members of a group or society.

Reward Allocation

A system or process in which rewards such as bonuses, promotions, or other incentives are distributed to employees based on their performance or achievements.

Collective Cultures

Societies or organizations where collective interests, values, and goals are prioritized over individual ones.

Autonomous Motivation

The drive to engage in activities for their own sake and personal satisfaction, rather than for some separable consequence.