What are the characteristics of an empire?

2 answers:

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Centralized Leadership. Imperial rulers maintain control over large swaths of territory by constructing large bureaucracies based in the empire's capital. Imperial governments tend to resemble either a monarchy (rule by a king or queen) or an oligarchy (authoritarian rule by a small group of elites).

Standardized Currency. Empires maintain a unified economy by making sure their subjects all use the same currency.

Ethnic Diversity. Most empires have subjects from multiple civilizations and cultures.

Expansionism. Empires seek to expand their power into new territories, either through military conquest or colonization. This expansionism allows them to increase the geographic size of their empires and acquire new subjects and natural resources.

Centralized Power-Empires administer rule through a centralized system of leadership. Typically, empires were ruled by a monarch or a group of oligarchs. Centralized bureaucracies make significant decisions concerning the well-being of the empire.

Vast Territory-Empires typically rule over extensive portions of land and various territories. Some empires conquer neighboring territories and annex those areas, while others seek territories overseas and establish colonial rule.

Imperialist Agenda-Empires are ruled by individuals with imperialist agendas who wish to extend their country's influence through military force or diplomacy.

Diversity-Empires are made up of different ethnicities, nationalities, cultures, religions, and races.

Strong Military-Empires typically result from successful military conquests. Superior military strength allows various empires to conquer weaker nations which enable the centralized government to make territorial gains and expand the empire.

vichka [17]3 years ago

3 0

I think one of them is owning land in seperate areas

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Explain why a disequilibrium will exist in the corn market as prices rise from p1 and p2

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Sticky prices: Firms may be committed to maintaining the same price for the entire year. As a result, if demand rises over the season, there will be a shortage because the company does not want to continuously changing pricing — especially when demand is erratic. There are menu costs in adjusting pricing, but they can also upset customers by raising prices constantly.
Social factors: Firms may intentionally keep prices low because they believe they have an obligation to the community - for example, landlords not raising rent, or football teams not raising ticket costs.
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Government controls: ex maximum or minimum prices or government regulating prices, ex train tickets limited by rail regulators.

<h2>Price above equilibrium</h2>

In other circumstances, the price may be set higher than the equilibrium price, resulting in a surplus of supply. At P2, supply exceeds demand, implying that businesses have surplus inventory they can't sell. There is a Q3-Q2 surplus. In a free market, the market price should fall to P1, where demand equals supply.

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