Labor mobility. In markets, supply is represented by companies while demand is represented by customers. Its not the demand of the product that pays, it is the skill set of the employees that determines the their degree of pay. If you ask yourself why a retail sales person is paid less than a doctor, you will obviously note that the difference in their pay is their skill. Businesses look for profits, and skilled workers drive profitability high hence they get to be paid more than low skilled workers.
According to Perry Rogers, one reason the Chinese were unsuccessful in halting the opium <span>trade was because the country had come to depend on it for revenue. </span>
Its either between A and B, most likely A
Answer:
It originated from China
The black death first affected China, and then traveled to Northern Africa.
Answer:If price and total revenue change in the same direction, demand is inelastic. a measure of the extent to which the quantity supplied of a good changes when the price of the good changes. ... the percentage change in the quantity supplied is less than the percentage change in price.
Explanation:
