First, money serves as a medium of exchange, which means that money acts as an intermediary between the buyer and the seller. ... This money is then used to buy shoes. To serve as a medium of exchange, money must be very widely accepted as a method of payment in the markets for goods, labor, and financial capital.
Answer:The demand curve for doughnuts will shift to the left.
Explanation:
For close substitute products the effect on the price of one substitute will affect the demand of the other substitute, if one substitute faces price fall the demand of the other substitute will fall .
How does Shifts in demand occur?
Depending on the demand the curve will shift to the right or left
When the demand increases the demand curve shift to the right .
Which may be due to things like a price increase of a substitute or a price fall of the complement.
This shift to the right is mostly determined by how popular a product is which could make people buy it irrespective of how much it cost.
Decreases in demand will result in shifting of a demand curve to the left which may be due to a price fall of the substitute product or a rise price of the complement or when people no longer have enough money to buy the product.
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The Pilgrims and the Puritans established colonies in the New World to practice their religions freely.
The Pilgrim Fathers was an English religious group formed in the late sixteenth century that, being dissatisfied with the political-religious environment in their country, decided to emigrate to the New World in 1620.
The Pilgrim Fathers left the port of Plymouth (England) on the Mayflower ship on August 15, 1620 and, crossing the Atlantic Ocean, intended to reach the Jamestown colony -founded in 1607- but strong storms prevented it by pushing about 800 km further north, to Cape Cod, where they arrived on November 9 of the same year. Shortly after they founded Plymouth that would be the capital of the homonymous colony, which existed until 1691, year in which it was united with the Colony of the bay of Massachusetts forming the Province of the Bay of Massachusetts.
The Pilgrim Fathers were gathered together by the Calvinist puritanical church and took refuge from religious persecutions and from the political instability that existed in Europe.
