A Researcher Measures the Following Correlation Between Cost of Produce

question 53

Multiple Choice

A researcher measures the following correlation between cost of produce and number of units sold.Which description best explains the relationship between these two factors?

• A)As the cost of produce increases,so also do the number of units sold.
• B)Less expensive produce is associated with an increased number of units sold.
• C)Less expensive produce is associated with a decreased number of units sold.
• D)No linear pattern is evident.

---

Definitions:

Goods and Services

The tangible and intangible outputs of an economy that satisfy consumer needs and wants.

Product Market

The marketplace where final goods or services are offered to consumers, businesses, and the public.

Factor Market

A marketplace for the services of a factor of production (e.g., labor, capital), where firms buy resources they need to produce goods and services.

Circular Flow

An economic model depicting how money moves through an economy between producers and consumers, illustrating the continuous flow of goods and services and financial transactions.