Construct · 1 fields · 1 citations

Hicks-Marshall laws of derived demand: a standalone construct

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Labor economics

conditions under which labor demand is more elastic: elastic product demand, easy substitution of other inputs, a large labor cost share and elastic supply of other inputs.

In labor economics, Hicks-Marshall laws of derived demand refers to conditions under which labor demand is more elastic: elastic product demand, easy substitution of other inputs, a large labor cost share and elastic supply of other inputs. This meaning comes from Hicks (1932) in The theory of wages.[1]

Unit
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Nearby constructs

cost4 fields · 4 citationsjingle · one word, four constructs demand4 fields · 4 citationsjingle · one word, four constructs labor4 fields · 4 citationsjingle · one word, four constructs

References

Hicks, S. J. R. (1932). The theory of wages. Macmillan / St. Martin's Press. ISBN 9780333027646

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