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:
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Explanation:
His goal was to create a united and indivisible France, equality before the law and to abolish prerogatives. Robespierre is best known for his role during the Reign of Terror, during which he oversaw the arrest and execution of numerous political adversaries whom he and his allies deemed to oppose the Revolution. Therefore, Robespierre was sent to the guillotine because it is he who is responsible for the reign of terror. He followed a policy of severe control and punishment. All those who he saw as enemies of the republic, members of his own party even who did not agree with his methods were arrested, imprisoned and tried by the revolutionary tribunal.
Answer:
The Chinese wanted the gold that California had, so they went and mined it Explanation:
An alliance was formed between Germany and the untied states
Answer:
B. Peasant revolts against taxation and coercive labor systems
Explanation:
According to the given painting of which the general public which includes the clergy, noblemen and townspeople, the developments as shown in the painting contributed to peasant revolt against taxation and coercive labor systems.
This is because, they got inspiration from the painting to rebel against taxes and labor.
