1) When the supply and demand curves intersect, the market is in equilibrium. This is where the quantity demanded and quantity supplied are equal.
2)The corresponding price is the equilibrium price or market-clearing price, the quantity is the equilibrium quantity.
3) goods brought on by fads
4) Because supply shock is a sudden change of a good. Meaning if it is a negative shock, the equilibrium price and quantity of course will go down. And if it is a positive shock, vice versa of negative.
5) consumers are able to pay more so they can buy a product when rationing makes it unavailable
Let us choose Extra study. Knowing that opportunity cost is related to the opportunities lost by choosing one specific course of events than others. By choosing an extra study and spend hours studying something, my opportunity cost will be the school sports practice hours that could be spent in this time. Another opportunity cost would be the social interaction, in a club, for example, lost because of the extra study decision.
Answer:
He is referring to Europe's penchant for imperialism
Explanation:
Imperialism is when one or more countries want to extend their own influence over other countries or regions either through land expansion or by strong cultural influence (sometimes both). Countries like Great Britain, for example, are significant models of this idea. Europe was a hotbed of imperialism and this led to many conflicts and wars.
The answer is really self explanatory. Rationing food allowed them to get through out the war without having to worry about the amount of food supply they had.
It is the last one they both served in the Mexican-American war