<span>Substitution Effect, The idea that as prices rise (or incomes decrease) consumers will replace more expensive items with less costly alternatives</span>
Answer:
It marked political, economic, social and cultural changes. It led to a rebirth of culture, knowledge and art. The technological and scientific improvements also enabled people to shift their focus from medieval thinking.
Explanation:
During the Crusades Europeans gained more knowledge on the eastern cultures, and during the period of constant trade middle class started strengthening its influence. This led to decline of influence of the church in favor of this class, that with richness they obtained started focusing themselves on new ways of thinking.
It is absolutely ethical to charge those with lower incomes less money, and those with higher incomes more money.
