What were ways to challenge the British and the taxes? (Colonists perspective)

1 answer:

7 0

The British were imposing great taxes without properly representing the colonists. This led to conflict about whether colonists were entitled to a voice at all. =Revolutionary War

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How Did Supply and Demand Effect farmers

Pie

Supply and Demand Effects farmers in various ways:

Demand Increase: Price increases, Quantity increases.
Supply Increase: Price decreases, Quantity increases.
Demand Decrease: Price decreases, Quantity decreases.
Supply Decrease: Price increases, Quantity decreases.

Explanation:

Supply and demand, as well as market prices, will rise and fall until they achieve a balance, which is called market equilibrium. As a response to decline the sales, farmers will have to lower the prices until the demand for product increases.

If a farmer set a price which is too high, thus the demand will decrease. If the market price is high, the interest of producers for a certain product or service will increase.

8 0

3 years ago

Who ruled through a council of regency?

g100num [7]

Answer:

Edward VI

Explanation:

Edward became king at the age of nine, when his father died in January 1547. His father had arranged that a council of regency should rule on his behalf, but Edward's uncle, Edward Seymour, Duke of Somerset, took power and established himself as protector.

6 0

3 years ago

Choose three goods. Then predict whether they have elastic or inelastic demand at their current price. Next, determine their ela

gladu [14]

The price elasticity of a demand function measures the reaction of the quantity demanded by consumers after the price modification of a product. According to the law of demand, for normal goods, when the price of the product increases, the quantity demanded decreases, therefore there is an inverse relationship between price and quantity. Elasticity helps to assess the proportion of the modifications in the two variables.

Let's analyse the following three goods:

Gasoline, is a good with an inelastic type of demand curve. When there is a change in the price of gasoline, the quantity demanded by consumers decreases in a lower proportion than the price increase. There are no easily available susbtitutes that consumers could purchase instead of gasoline to cover the same need. The shape of this type of demand curve is represented by the first graph attached.
Cola, is a product with an elastic demand curve. When the price of a certain type/brand of cola drink increases its price, the quantity demanded of that product decreases in a larger proportion than the price increases. Consumers can easily switch and buy from a different cola brand or select a different type of soda drink to satisfy the same need. The shape of this type of demand curve is represented by the second graph attached.
Two vending machines located next to each other provide an example of a perfectly elastic demand curve. If the price of one of the two vending machines increases for the same product, its quantity demanded would be reduced to 0, as all consumers will switch to the other machine which is located only a few centimetres away. The shape of this type of demand curve is represented by the third graph attached.