Asked by Kennedy Clarkson on Apr 27, 2024
Verified
The demand for airline pilots results from the demand for air travel.This fact is an example of:
A) resource substitutability.
B) rising marginal resource cost.
C) elasticity of resource demand.
D) the derived demand for labor.
Derived Demand For Labor
The demand for labor that is dependent on the demand for the goods and services labor produces.
Airline Pilots
Trained professionals who operate aircraft, ensuring safe flight operations from departure to arrival.
- Understand the concept of derived demand within labor and resource markets.
Verified Answer
GI
Gaukhar IsmailovaApr 28, 2024
Final Answer :
D
Explanation :
The fact that the demand for airline pilots is derived from the demand for air travel means that the demand for pilots is dependent on, or derived from, the demand for the product or service they help produce. This is an example of the derived demand for labor, which is the demand for a particular type of labor that is derived from the demand for the product or service that labor helps produce.
Learning Objectives
- Understand the concept of derived demand within labor and resource markets.