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 69 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
YES! Correct, THANKS for helping me on my review

gcook

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Comparison of the chemical structures of psilocybin and LSD. Psilocybin (left) is derived from a mus Comparison of the chemical structures of psilocybin and LSD. Psilocybin (left) is derived from a mus
Attention and memory are in demand during circle time. Attention and memory are in demand during circle time.
Cultures Ideal Body Types Cultures Ideal Body Types
A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ... A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ...
Fate of reducing equivalents derived from fatty acyl-CoA dehydrogenation Fate of reducing equivalents derived from fatty acyl-CoA dehydrogenation
The introduction of a new generation of electric and hybrid cars will reduce the demand for oil The introduction of a new generation of electric and hybrid cars will reduce the demand for oil
Video: The Lagging Strand in DNA Replication and Replication in Action

For a complete list of videos, visit our video library