Biological approach: The term "biological approach/perspective" is described as an approach/perspective on personality that emphasizes an individual's internal physiological as well as genetic factors that tend to influence his or her personality. It aims at how or why an individual's personality traits exhibit or manifest through biology & therefore, investigates or search the connection between DNA, personality, and specific processes in his or her brain.
In the question above, the given statement represents the biological approach as the approach that focuses on the significance of external factors, internal factors or both equally.
which means automation of production, so when you will have mass production at low cost it will definitely result in a decrease of product cost.
This shall consequently lead to an increase of the quantities of product Z produced because, the extra capital that comes from saving on the production costs shall be used to produce more goods.
Since production shall have not cost any extra capital, the price shall remain constant.
