The intersection between the upward sloping function (the supply curve) and the downward sloping function (the demand curve) is the equilibrium price of the market, the point at which the wishes of consumers and suppliers meet.
The graph described should be like the one attached. The example includes the demand and supply curves and the equilibrium price of a market of agricultural products.
When the economic authorities set a minimum price (also called price floor), above the equilibrium price there is a situation of excess supply.
- Producers are willing to produce a larger quantity in the price floor scenario, as they will earn a higher price per unit commercialized.
- Consumers are willing to consume a smaller amount of product units at a more expensive prices.
The wishes of producers and consumers do not meet in the price floor situation, the quantity supplied is larger than the quantity demanded and therefore there is an excess supply.
Bostons economy flourished of the sea ex. they have the boston harbor witch brought in tons of trade , New york economy was focused on lumber and charelston was rural farmlands . Hope this helps
That would be matching attractiveness. According to the Elaine Hatfield and her associates
that first proposed the matching hypothesis in 1966, the people would thrive
more and be more successful in a relationship with someone of similar social
desirability status. This is why according to them some people will overlook
the difference in physical attractiveness and get attached to their partner.
It was a research development project that made the first atomic bombs during WW2
the United States led it with the help of the UK and Canada
Answer: Before World War I, the US had long-standing economic and political ties to France or the united kingdom and something called foreign policies.
Explanation: I can't remember which one but i hope this helps :)