They were cut off from British goods, because America realized they could no longer depend on foreign goods and so they turned to their own manufacturing.
Answer:
people life changed drastically because of a good economy that grew every day. And every was more affordable because of the great numbers of the same products
Explanation:
the economy during the industrial revolution grew a lot and everything was cheaper because of the great number and quantities of products
Answer:
The Income Effect states that if a change in prices causes consumers to have lower real incomes, then consumers would demand a lesser quantity of goods than normal.
Explanation:
In microeconomics, it is understood as the income effect one of the effects caused by the variation in the price of a product on its demand.
The income effect corresponds to the variation in the quantity demanded of a good (or service) as a result of the modification of the purchasing power caused by a change in the price of the good in question. When the price of a good changes, the purchasing power changes. If the price of the good falls, the purchasing power increases as the consumer can consume more units of that good or other goods. If the price of a good increases, its purchasing power falls since now its income reaches it for less units of the good while it has less resources to buy the other goods
Jeff lives in a third-world country (Mexico). He is under a traditional economy. He likes to keep it simple, he doesn't get as much profit or surplus as he would in a different type of economy. However, Jeff is very socially satisfied and has a pronounced role in the economy. But, the other day he broke his leg and wasn't able to access doctors through technology, or even have access to Western Medicine. On the other hand, Jenna lives in North Korea. There the government controls everything like resouces, the factories, and equipment. Jenna almost never experiences enemployment as the government provides a steady flow of them. But, this whole process sometimes causes protests in her country, which the government then has to control. Both economies have advantages and disadvantages, Jeff and Jenna are pen pals.
Germany is surrounded by many smaller countries, and it's easier to attack the countries surrounding Germany/or other smaller countries.
