<span>Adam Smith and different scholars of industrialisation saw normal laws as the establishment with the expectation of complimentary exchange and economy. They saw it as the very root and every thing that relates to industrialisation was embedded in the natural laws</span>
Answer:
I NEED SOME POINTS TO ASK A QUESTION.
Explanation:
Answer:
False
Explanation:
This might not even be considered stealing if the person removing the cologne puts it back but it is definitely not considered abuse which is where someone verbally or physically does harm to the victim.
Answer:
- At equilibrium, the quantity of a commodity demanded is the same as the quantity of that commodity supplied. i.e. QD = QS. The price at which QD = QS is the equilibrium price.
- When there is a shortage, the quantity of goods demanded would be greater than quantity supplied, as the price falls below the equilibrium price. i.e. QD>QS
- When there is surplus, the quantity of goods demanded is less than the quantity supplied, as price increases above the equilibrium price. i.e. QD<QS.
For example, in the table showing the demand and supply schedule for T shirt at different prices (see file attached), the equilibrium price for a unit of T shirt is $3, at equilibrium, QD = QS (i.e. 30 = 30).
A shortage is recorded when the price of T shirt falls below equilibrium price of $3 as shortage of T shirt is recorded, i.e. @ $2, QD>QS (40>20). A shortage of 20 is recorded.
Surplus occurs as price increases above equilibrium price of which QD<QD, i.e. @ $4, a surplus of 20 is recorded.