If the world price of cotton falls, firms will be less willing to supply cotton. Therefore, fewer cotton firms may open, or few people will be employed in the cotton-producing industry; therefore, the demand for labour for cotton-producing firms in South Carolina will decrease.
Since the world price of cotton falls, a textile-producing firm in South Carolina which uses cotton as only one aspect of their textiles, textile firms can buy more cotton since it's cheaper and will reduce costs. Since this is the case, the demand for cotton will increase. Because of this, more textiles need to be made, and so the demand for labour increases as a result.
The unemployment resulting from such sectoral shifts in the economy is best described as structural since demand for labour is decreasing in the primary sector and increasing in the secondary sector of the industry.<span>
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<span>A prolonged economic contraction that is not especially long or severe is called recession.
</span><span>When there is a significant decline in activity across the economy and this is lasting longer than a few months then we have recession.
</span><span>Recession is characterized with the following:
</span>drop in the following five economic indicators: real GDP, income, employment, manufacturing and retail sales<span>.</span>
Explanation:
Accreditation is important because it:
Helps determine if an institution meets or exceeds minimum quality standards. Helps students determine acceptable institutions for enrollment. Assists institutions in determining acceptability of transfer credits. Read more about the transfer of credits.
Answer:
SO both can work together and communicate effectively
Explanation:
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