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Sirabhop Juprasert
on Oct 26, 2024

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A shift in demand for a given factor of production will NOT occur if:

A) the price of that factor falls.
B) the productivity of that factor increases.
C) the productivity of that factor decreases.
D) there is a decrease in the price of a substitute factor.

Substitute Factor

A factor or input that can be used in place of another to produce a good or service.

Factor Production

Refers to the inputs or resources used in the process of producing goods and services, including land, labor, capital, and entrepreneurship.

  • Investigate the consequences of labor productivity adjustments on the need for labor.
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Aspynn HarryOct 29, 2024
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