1) When the supply and demand curves intersect, the market is in equilibrium. This is where the quantity demanded and quantity supplied are equal.
2)The corresponding price is the equilibrium price or market-clearing price, the quantity is the equilibrium quantity.
3) goods brought on by fads
4) Because supply shock is a sudden change of a good. Meaning if it is a negative shock, the equilibrium price and quantity of course will go down. And if it is a positive shock, vice versa of negative.
5) consumers are able to pay more so they can buy a product when rationing makes it unavailable
Answer:
refers to a political situation, not to any specific legal rule. ... John Locke wrote that freedom in society means being subject only to laws made by a legislature that apply to everyone, with a person being otherwise free from both governmental and private restrictions upon liberty.
Explanation:
The Populist party wanted the government to take over the railroads.
The Populist party mostly made up of farmers who had several grievances such as:
- railroads overcharging them to transport their goods
- the use of gold instead of silver to back the U.S. dollar
- high charges on telegraph
In order to address these, they formed the Populist party where they called on the U.S. government to take over the railroads and telegraph wires so that the government would give them better rates.
In conclusion, the Populist party wanted more government interference so that they would be able to access the railroad and telegraph at cheaper rates.
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Answer:
1) They have councils that create new laws.
4) They have elected councils.
5) They are the basic government structures of cities and towns.
Columbus was trying to find a way to India when he landed in North America.
