It is important for Latin America to diversify it's economy because for one thing, L.A. wouldn't have to take the risks of a failed business by relying on one crop or resource. Another reason is that more diverse crops or resources brings in a steady amount of money with varied products, and L.A. would be taking their chances by just relying on one crop/resources.
More people were needed to plant and pick cotton so plantation owners used slaves to fill these positions.
Explanation:
The invention of the "cotton gin by Eli" Whitney resulted in tremendous production in America and other industrial estates. However, it was associated with another far-fetched issue along-side.
Before the invention of the cotton gin, there was general slack in demand of slaves. The coming of cotton gin meant the humongous need for raw cotton since the machine can process the raw cotton at a faster pace than any other machines available contemporarily.
This rapid need for raw cotton was substituted by employing slaves in the cotton field for their production and collection. This caused an increased need for slave once again.
People who need life-saving drugs cannot do without them and surely will be willing to pay very high prices for them because a monopolist, such as one selling life-saving drugs, still faces downward-sloping demand curves.
Drugs are chemical substances that, when consumed, cause changes in the physiology or psychology of living organisms. Pharmaceuticals are generally distinguished from foods or substances that provide nutritional supplements. Drugs are consumed by inhalation, injection, smoking, ingestion, absorption through skin patches, suppositories, or sublingual dissolution.
In pharmacology, a drug is a chemical substance, usually of known structure, that produces a biological effect when administered to a living organism. Pharmaceuticals, also known as drugs or medicines, are chemical substances used to treat, cure, prevent, diagnose, or promote health. Medicines have traditionally been obtained by extraction from medicinal plants, but more recently they have also been obtained by disorders of organic synthesis.
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Answer:
honest trust worthy and reliable
Explanation:
Answer:
D. relatively more inelastic because wine is a luxury.
Explanation:
Elasticity is a measure of the sensitivity of demand to price changes. When price changes significantly alter demand, we say that demand is elastic. On the contrary, when price changes do not significantly alter demand, we say that demand is inelastic. This is the case of wine in relation to water. Wine is a good that can be considered sophisticated, luxury. Therefore, consumers are less sensitive to variations in the price of wine. However, water is an abundant good and demanded by all. If the price of water increases, demand tends to decrease as the elasticity of water demand is relatively greater than the elasticity of demand for wine. In other words, wine the demand for wine is relatively more inelastic.
