If all other factors are equal, supply will reduce as the prices go up.
Why would this be the case? As prices go up, demand for the product will go down, because some purchasers will not be able to afford the product. As demand goes down, then also suppliers will reduce their production of that product.
In economics, the law of demand asserts that the higher the price of something, the less people will demand that thing. The law of supply asserts that producers will supply more a product when it is selling at a higher price and are less motivated to produce quantities of the product when it is selling at low prices. <span>
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Answer:
In the time of industrial development people were engaged in expanding the industrial zones and innovating the process of making goods. After the market revolution happened industries who did not even had the procedure before were now willing to cooperate with the workers and craftsman.As they started a process to give enough facilities to its workers.
Explanation:
- As the worker started working only for a fixed duration of time and they were paid well for that, along with which bonuses and other incentives were also provided to the hard workers.
- Workers now had the right to protest and demand from the firm or company to which they were associated to.
- Now, there were communities and societies which helped the needy and those workers which needed add in the mean time.
- New company encouraged workers to do research and innovate the products.
- The development of factories changed the production of goods and the use of human labor
Answer:
Fossil fuels today account for 80 percent of global primary energy demand. Despite lowering costs for renewable energy, developing countries continue to invest in coal to ensure uninterrupted power supply and support their industry. As a result, global coal use is expected to grow slowly in the coming years despite declining demand in the US and Europe.
Explanation:
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D. Vietnam has never had truly free and democratic elections. In fact, the US was notable for effectively preventing voters in South Vietnam from voting for unification with North Vietnam in 1956.
