Which of the following illustrates how factor demand is related to product demand?

The quantity demanded for restaurant meals depends on the price of the meal.
A The quantity demanded for restaurant meals depends on the price of the meal.
B The demand for books depends on the number of authors in the market.
C The demand for airline pilots depends on the demand for air travel.
D The demand for auto mechanics depends on the supply of auto parts.
E The demand for health care depends on the cost of health care.

The factors of a product are the combination of the resources and the materials which are used to produce a particular product in a particular quantity.

The demand of the product directly has a direct effect on the demand of the factor which is used to produce that particular product. With the increase in the demand of the product, the demand of the factor used to produce that particular product will also increase.

topeadeniran2 topeadeniran2 · Answer 2 · 2021-10-15T13:43:28+02:00

The option that illustrates how factor demand is related to product demand is C. The demand for airline pilots depends on the demand for air travel.

Factor demand simply means the demand side of the factor market. It simply shows the relationship that exists between the quantity demanded of a factor and the factor price.

Product demand is used in describing how much customers desire a product of a company in a given period.

In this case, the demand for airline pilots depends on the demand for air travel. This shows how factor demand is related to product demand.

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