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.
I believe its railroads!
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Answer:
1. Jury
2. Convince.
3. Prosecutor.
4. Guilty.
5. Civil.
6. Criminal.
7. Verdict.
Explanation:
1. The name for the group of people who decide the outcome of a trial is known as jury.
2. A lawyer tries to convince those in the courtroom to agree with him or her.
3.The lawyers representing the people or a body of government in a criminal trial is known as prosecutor.
4. A person declared not guilty is officially not responsible for the crime.
5. A civil case relates to the rights of citizens, usually a dispute between citizens.
6. A criminal case is a lawsuit brought before a court involving someone who is accused of committing a crime.
7. The judgment or conclusion of a trial is known as verdict.
Answer:a.The Delian League placed large burden on its members (financial or military) for the benefit of Athens
Explanation:
sorry if im rong
In Roe v. Wade, the Supreme Court ruled that it was unconstitutional for states to prohibit abortions in the first three months of pregnancy.
