The intersection between the supply curve (an upward sloping function) and the demand curve (a downwardsloping function) determines the equilibrium point of a market. The equilibrium is the point which represents the exact market price and quantity demanded/supplied at which the wishes of consumers and suppliers meet.
<u>When the market is not in the equilibrium point</u>, two different situations could be happening:
- Excess demand: this is a situation in which the market price is located below the equilibrium price. The quantity demanded at that market price would exceed the amount that the producers are willing to produce and supply at that same price. Therefore, not all consumers are able to obtain the product they desire and there is rationing.
- Excess supply: at a certain price located above the equilibrium, the quantity that suppliers are willing to produce exceeds the amount demanded by consumers at that more expensive price. Therefore, suppliers would not be able to sell their whole production in the market.
Answer:
Leviticus 24-44:46.
Explanation:
The Hebrew Bible mentions few rules and regulations for maintaining slaves and how to treat them. Some provisions of the Hebrew Bible talks about setting slaves free after specific years while some talks about keeping them for generations.
The provision that might discourage many Hebrew slaves from seeking their freedom would be through the contents of Leviticus 24-44:46 of the Hebrew Bible. It says that slaves can be acquired from other nations or from one's own land itself if one wills to do so. The slaves that one acquire become one's private property and can be inherited to one's children.
This interprets that slaves have no right to become free if the owner does not wants to set them free. Instead they can be inherited by the owner's children as their property.
Remember that at the Constitutional convention, states with large populations clashed with states having small populations. The issue was over representation in Congress.
Answer:
In response to financial reverses related to the economic depression that began in 1893, the Pullman Palace Car Company, a manufacturer of railroad cars, cut the already low wages of its workers by about 25 percent but did not introduce corresponding reductions in rents and other charges at Pullman, its company town near Chicago, where most Pullman workers lived. As a result, many workers and their families faced starvation.
Answer:
The answer is in the 'necessary and proper clause' of the U.S. Constitution, better known as the 'elastic clause,' which allows Congress to make laws it needs to carry out its own powers.
Explanation:
