Answer: A Tulip prices increased as the demand increased.
Explanation:
In the article titled, <em>Inflation and Bubbles and Tulips</em>, the author attempted to explain how an Economic Bubble can develop when people overvalue a commodity.
The example used was the Tulip bubble of the 16th century in the Netherlands. Tulips were a new and interesting thing to the Dutch so the demand for them was high which also led to a higher price. The Tulips were then attacked by a virus which made them more aesthetically pleasing which led to the demand for Tulips rising even more.
This increased demand made Tulips even more scarce and so the prices kept rising with people trying to get their hands on more so that they could sell at a higher price.
If the price of bread goes up, the demand for bread and butter would go down as shown in option 1.
<h3>Why does it happen?</h3>
- Because the increase in the price of bread decreases the demand for it.
- Because customers would be less interested in buying bread.
- Because products that are consumed together with bread would be less sought after by customers.
Demand refers to customer interest in products. The increase in the price of the products causes this interest to decrease, causing the demand for the product to decrease.
When the demand for a product decreases, the demand for complementary products also decreases. Therefore, if the price of bread increases, the demand for bread decreases, and the demand for butter also decreases.
Learn more about demand:
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Answer:
Are Intelligent
Explanation: I Don’t know if this is right but not many people know that if you see a bird it means land nearby. Same thing with
William, who knew that you could make electricity with a windmill!
Answer:
People who attend Fashion Shows, people who review the clothes, people who make the clothes...
Well, its not good for your eyes, but since Corona, we have been on computers a lot, and it depends, like if you have special glasses
