This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Why is the demand for labor a derived demand? What will be an ideal ... (Read 66 times)

luminitza

  • Hero Member
  • *****
  • Posts: 555
on: Jun 29, 2018
Why is the demand for labor a derived demand?
 
  What will be an ideal response?

Question 2

Suppose there is a new technological invention that will allow you to put any resource into a special black box and in an instant anything that you program it to produce will be produced? Does this invention end scarcity? Why or why not?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

at

  • Sr. Member
  • ****
  • Posts: 359
Reply #1 on: Jun 29, 2018
Answer to Question 1

The demand for labor arises because we need to use labor to produce a good or service. The demand for a good, for example an apple, is a direct demand. However, the demand for an apple picker is a derived demand. It is derived from our need to use labor to produce the good we demand, the apple.

Answer to Question 2

It does not end scarcity for the simple reason that you still need to use human labor to place the resources in the black box and the natural resources themselves of course are still scarce. In addition, this device will not limit our wants.


luminitza

  • Member
  • Posts: 555
Reply 2 on: Jun 29, 2018
Excellent

daiying98

  • Member
  • Posts: 354
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Structure of cholesterol and steroid hormones derived from cholesterol Structure of cholesterol and steroid hormones derived from cholesterol
Proline and arginine are derived from glutamate Proline and arginine are derived from glutamate
The demand for cheap coal to generate electrical power is rising The demand for cheap coal to generate electrical power is rising
Overallocation of Labor to Sector 1 Overallocation of Labor to Sector 1
The original Supply and Demand graph The original Supply and Demand graph
Three queens, fertile females in species that have a reproductive division of labor. Three queens, fertile females in species that have a reproductive division of labor.
Video: Introduction to Macular Degeneration

For a complete list of videos, visit our video library