Asked by Ogheneruno Siakpebru on May 11, 2024
Verified
When the demand for automobiles falls,the demand for autoworkers
A) rises.
B) falls.
C) may rise or fall.
Derived Demand
The demand for a good or service that arises from the demand for another good or service; for example, the demand for steel is derived from the demand for automobiles.
- Ascertain the connection between the demand for resources and the consumption of the end product.
- Assess the factors affecting the requirement for labor and land in multiple contexts.
Verified Answer
KU
Kelvin UrquiaMay 18, 2024
Final Answer :
B
Explanation :
When the demand for automobiles falls, the production of automobiles is reduced, leading to a decrease in the demand for autoworkers. This results in layoffs and job losses in the industry as a whole. Therefore, the demand for autoworkers falls when the demand for automobiles falls.
Learning Objectives
- Ascertain the connection between the demand for resources and the consumption of the end product.
- Assess the factors affecting the requirement for labor and land in multiple contexts.