... is demand for a good or service not for its own sake, but for what it produces, e.g. labour is demanded for the output that it produces
Derived Demand
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Marginal ... product of labour is the additional quantity of output produced by an additional unit of labour input
Physical
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Marginal ... product of labour is the additional ... received by a firm by a firm as it increases output by using an additional unit of labour input
Revenue
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Marginal ... is a theory which argues that the demand for labour depends upon balancing the revenue that a firm gains from employing an additional unit of labour against the marginal cost of that unit of labour
Productivity Theory
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... benefits are benefits offered to workers by firms that are not financial in nature
Non percuniary
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... is the proportion of the population of working age who are in employment or seeking work
Participation Rates
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A ... is a market in which there is a single buyer of a good, service or factor of production
Monopsony
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The ... is a government set ... rate below which firms are not allowed to pay
Minimum Wage
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Other cards in this set
Card 2
Front
Marginal ... product of labour is the additional quantity of output produced by an additional unit of labour input
Back
Physical
Card 3
Front
Marginal ... product of labour is the additional ... received by a firm by a firm as it increases output by using an additional unit of labour input
Back
Card 4
Front
Marginal ... is a theory which argues that the demand for labour depends upon balancing the revenue that a firm gains from employing an additional unit of labour against the marginal cost of that unit of labour
Back
Card 5
Front
... benefits are benefits offered to workers by firms that are not financial in nature
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