The relationship between the prices of apple and demand is : <u>A Negative correlation </u>
<h3>Negative correlation </h3>
A negative correlation occurs when an increase in one variable leads to a decrease in value of the other variable.
As the price of goods and service go up in the open market, the demand for the goods and services goes down, this kind of relationship is known as an Negative correlation.
For Kelvin to have an increase in demand he must decrease the price of the apples.
Hence we can conclude that The relationship between the prices of apple and demand is a<u> Negative correlation </u>
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When a good’s price is lower, people will buy more of it. Confirmed 100%
Resources needed to provide goods or services are called factors of production
<h2>Further Explanation:
</h2><h3>Factors of reproduction </h3>
- Factors of reproduction are inputs or resources that are used in the generation of goods and services with an aim of making profit.
- There are four main factors of production which include;
- Land
- Labor
- Capital
- Entrepreneurship
<h3>Land </h3>
- This refers to all the natural resources that are available to be used in the production of goods.
- These natural resources includes raw materials from the ground, non-renewable resources such as petroleum and renewable resources such as timber.
- The income or reward earned from land as a factor of production is rent.
<h3>Labor </h3>
- This refers to the manpower or work done by human beings.
- The value of labor depends on the skills, education and motivation of workers.
- The reward for labor as a factor of production is wages and salaries.
<h3>Capital </h3>
- This refers to the capital goods, that is, man-made objects that are used for production of goods and services such as machinery, equipment and chemicals.
- They also include industries and commercial buildings.
- The reward or income earned from capital goods is interest
<h3>Entrepreneurship </h3>
- It involves coming up with an idea and developing it into profitable business.
- An entrepreneur is therefore an individual who combines the other factors of production to build a business and add the supply in the economy.
- The reward or income earned by entrepreneurs is profit.
Keywords: Factors of production, labor, land, capital
<h3>Learn more about
</h3>
Level: High school
Subject: Business
Topic: Factors of reproduction
The correct answer is letter D
A production process is a system of actions that are dynamically interrelated and that are oriented towards the transformation of certain elements.
Answer:
China benfit from Africa because of its cheap labor and abundance of resources
Africa benfit from china because of chinese companies investment in Africa
Its a win win situation because China gets cheaper resources and africa gets more companies invested in africa
