A tariff is a tax that is placed on either imported or exported goods. It is a means of taxing foreign goods to encourage domestic industry. The answer is false.
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.
Hi there!
In paragraph C, there is an error in sentence number 1, because it is "studied", not "studyed".
Hope I helped, and I'd love brainliest answer!
Each element has its unique properties, each contain a different number of protons and neutrons giving it its own atomic number and mass number
Explanation:
silver is (uncountable) a lustrous white metallic element, atomic number 47, atomic mass 10787 symbol ag while iron is (uncountable) a common. inexpensive metal often black in colour that rusts is attracted by magnets and used in making steel
