Demand for factors of production is
A). Derived demand
B). Joint demand
C). Composite demand
D). None of the above
Derived demand
Demand for factors of production is derived demand. The demand for any factor of production, such as labor, physical capital or land is a derived demand because it arises not from the intrinsic utility provided by the factor but because of the value placed on the production it produces by consumers.
1. Question 13:What problems are being faced by the power sector in India?
2. Which of the following is NOT an input?
4. Price of a product falls by 10% and its demand rises by 30%. The elasticity of demand is
5. In the long run, any firm will eventually leave the industry if
7. Disguised unemployment in India is mainly related to
9. Question 16:Were there any positive contributions made by the British in India? Discuss.