Demand for factors of production is ........

Economics- Phase (I & II) Demand and Supply for Money

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Demand for factors of production is

Derived demand

Joint demand

Composite demand

None of the above

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Explanation:

Demand for factors of production is derived demand. The demand for any factor of production, such as labor, physical capital or land is a derived demand because it arises not from the intrinsic utility provided by the factor but because of the value placed on the production it produces by consumers.