The demand for factors of productio

The demand for factors of production is derived from the demand for the products these factors make. For example, if mobile phones are in greater demand, then the demand for workers in the mobile phone industry will increase, ceteris paribus.

The demand for labour will vary inversely with the wage rate. To understand this we need to consider the law of diminishing returns. This states that if a firm employs more of a variable factor, such as labour, assuming one factor remains fixed, the additional return to extra workers will begin to diminish. To explore this process, we need to consider the total physical product (output) produced by a series of workers, which will enable us to measure the individual output from each additional worker – the marginal physical product (MPP).

Kết quả (Anh) 2:

The demand for production is derived from của the demand for the products những Factors make. For example, if mobile phones are in greater demand, then the demand for workers in the mobile phone industry will tăng, ceteris paribus. The demand for will vary inversely with the Labour Wage rate. We Need To Understand this to the law of diminishing returns như. This states if a firm employs mà more of a variable factor, như Labour, assuming one Remains fixed factor, the extra additional workers will begin to return to diminish. To explore this process, We Need to như the total physical product (output) Produced by a series of workers, enable us to measure sẽ the output from each additional worker of the individual - the marginal physical product (MPP).