The intersection between the supply curve (an upward sloping function) and the demand curve (a downwardsloping function) determines the equilibrium point of a market. The equilibrium is the point which represents the exact market price and quantity demanded/supplied at which the wishes of consumers and suppliers meet.
<u>When the market is not in the equilibrium point</u>, two different situations could be happening:
- Excess demand: this is a situation in which the market price is located below the equilibrium price. The quantity demanded at that market price would exceed the amount that the producers are willing to produce and supply at that same price. Therefore, not all consumers are able to obtain the product they desire and there is rationing.
- Excess supply: at a certain price located above the equilibrium, the quantity that suppliers are willing to produce exceeds the amount demanded by consumers at that more expensive price. Therefore, suppliers would not be able to sell their whole production in the market.
Answer:
The Mayan writing system is different because, the ancient Maya system of writing has around 800 signs, and it's a mixture of logograms and phonetic signs.
Explanation:
Answer:
I didn't know either so just ask other to do that
For your question the answer is rome because r<span>ome became a great Mediterranean power as a direct result of the Punic wars.
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Answer:
The statement is false, as the region of present-day southern Iraq was part of the Fertile Crescent.
Explanation:
The Fertile Crescent is a region in the Middle East, south of the mountains of Turkey and Iran. It mainly covers the fertile areas of Iraq, Syria, Lebanon, Israel and Jordan, as well as parts of southeastern Turkey and southwestern Iran. The area is home to the great Euphrates and Tigris Mesopotamian streams, as well as the Syrian Orontes and the Levant Jordan. The Nile valley in Egypt is also often considered to be part of the region.
The Fertile Crescent takes its name from its semi-resembling shape and its good cultivation conditions, which allowed agriculture to develop in the area between 11000 and 8000 BC. The area is home to most of today's most important crops and livestock.
In the prehistoric and early history, the region developed the first major cities and early centers of cultivation as agriculture enabled it to support large numbers of people.
