What term describes the concept that the need for automobile workers arises because of the demand for automobiles?

Multiple choice question for Income Inequality. Select an option, then review the explanation below.

Explanation

The demand for workers in car manufacturing is not independent; it depends on the demand for cars themselves. This relationship is known as derived demand.

Practice related questions from the same subject.

1.Which of the following best describes the Benazir Benefit Income Scheme?
2.Which category of tax does VAT best represent?
3.When a tax can be transferred, what determines the actual burden of the tax?
4.What does tax incidence refer to?
5.What does a progressive income tax system imply about the tax rate for individuals with higher earnings?

What term describes the concept that the need for automobile workers arises because of the demand for automobiles?

Explanation

More Income Inequality MCQs