The economy operates according to the law of supply and demand for goods and services. According to this theory, the interaction between supply and demand for a good or service fits and the vector of adjustment is price.
If the price is high, there is more supply than demand. If the price is low, there is more demand than supply. If demand increases, price increases and supply increases. If demand falls, the price falls. That is, the price makes the interaction. There will be a moment where the quantity offered is exactly equal to the quantity demanded, at which point the price practiced is the equilibrium price.
So if an economy is in equilibrium at a time and then the price charged is higher than the equilibrium price, it means that demand has gotten higher than supply.
<u>However, none of the alternatives would explain why a price is charged above the equilibrium price.</u> <u>The answer is the reverse of what is written in alternative (A)</u>. The truth is this: As the quantity demanded rises, the price rises above the equilibrium price. <u>This is the answer</u>.
The alternative (B) is true, although it does not answer the question of the problem. If prices rise, demand falls. This is because the high price discourages consumption.
BTW, I'm an economist and I'm sure.
The correct answer to this open question is the following.
Although the question is incomplete because it did not say what kind of debate, the place, the date, and the scene or the debate, we can say that when journalists report debates in the newspaper, they have to elaborate a specific description, chronologically, maybe, of the way congressmen debated.
A typical scene of debate includes Congressmen of the two parties discussing and even arguing their proposals, trying to defend their ideas in order to win the debate. Sometimes the debate gets heated and it becomes something personal, although that is not professional.
Answer:
Because factories arent the same as farms
Explanation:
Answer:
1. People did not trust a strong federal government after years of British rule.
2. Most people felt more loyalty to their home states than the federal government.
Explanation:
The two reasons why the Founders gave more power to the states rather than the federal government under the Articles of Confederation are:
1. People did not trust a strong federal government after years of British rule. Fearing a strong national government might become a tyrant in nature just like the British Crown
2. Most people felt more loyalty to their home states than the federal. At this point, each of the thirteen colonies practiced or make use of separate policies that favor each state alone rather than the whole country.
