The demand for labour is an example of

Assessment: JAMB UTME - Economics - 2003 Subject: Economics

Question 1 Report

The demand for labour is an example of
Answer Details
The demand for labour is an example of derived demand. This is because labour is not demanded for its own sake but for the output it produces. In other words, the demand for labour is derived from the demand for the goods and services that labour helps to produce. As the demand for goods and services increases, the demand for labour increases as well. Conversely, if the demand for goods and services decreases, the demand for labour decreases as well.
Read lesson note on The Theory Of Demand (JAMB)
Read lesson note on Economics As A Science (JAMB)
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