The California Gold Rush is the answer.
Supply and Demand Effects farmers in various ways:
- Demand Increase: Price increases, Quantity increases.
- Supply Increase: Price decreases, Quantity increases.
- Demand Decrease: Price decreases, Quantity decreases.
- Supply Decrease: Price increases, Quantity decreases.
<u>Explanation:</u>
Supply and demand, as well as market prices, will rise and fall until they achieve a balance, which is called market equilibrium. As a response to decline the sales, farmers will have to lower the prices until the demand for product increases.
If a farmer set a price which is too high, thus the demand will decrease. If the market price is high, the interest of producers for a certain product or service will increase.
1. Designed to influence opinion against the British, colonial leaders used the Boston Massacre killings as <span>propaganda.
2. </span>The acts passed by King George III and Parliament that closed Boston Harbor until the Massachusetts colonists paid for the ruined tea were called the Coercive Acts.
