Virginia's economy depended heavily on tobacco production, which flourished in the lands and when exported to Europe enriched Virginia's budget a lot.
The intersection between the supply curve (an upward sloping function) and the demand curve (a downwardsloping function) determines the equilibrium point of a market. The equilibrium is the point which represents the exact market price and quantity demanded/supplied at which the wishes of consumers and suppliers meet.
<u>When the market is not in the equilibrium point</u>, two different situations could be happening:
- Excess demand: this is a situation in which the market price is located below the equilibrium price. The quantity demanded at that market price would exceed the amount that the producers are willing to produce and supply at that same price. Therefore, not all consumers are able to obtain the product they desire and there is rationing.
- Excess supply: at a certain price located above the equilibrium, the quantity that suppliers are willing to produce exceeds the amount demanded by consumers at that more expensive price. Therefore, suppliers would not be able to sell their whole production in the market.
Answer: As soon as Europeans began to settle in America, in the early 16th century, they imported enslaved Africans to work for them. As European settlement grew, so did the demand for enslaved people. Over the next 300 years more than 11 million enslaved people were transported across the Atlantic from Africa to America and the West Indies, and Britain led this trade from the mid-17th century onwards. Ports such as Bristol, Liverpool and Glasgow sent out many slaving ships each year, bringing great prosperity to their owners. Many other cities also grew rich on the profits of industries which depended on slave-produced materials such as cotton, sugar and tobacco.
Explanation:
Answer:
The correct answer is b) emphasized individual judgment, not tradition.
Explanation:
The Transcendentalist Movement refers to a philosophical and spiritual movement that arose in the United States between the 1820s-1840s. It was inspired by a number of other schools of thought, such as Christian Unitarianism, Hinduism, and the philosophy of Immanuel Kant. Transcendentalists emphasize the role of the individual and the search of individual freedom. They believe that <u>the individual is at its best when it's free and independent, especially from the influence of institutions or tradition, which they claim corrupt the individual mind and cloud its judgment</u>. Some of the best known transcendentalists were figures such as Ralph Waldo Emerson, Henry David Thoreau, and Margaret Fuller.
