Answer: Jean-Jacques Rousseau D
Explanation: I look it up it was correct.
Senaters have no term limits
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.
The correct answer is option C) Steam Engine
Steam Engines were developed in the 1st Industrial Revolution in England. They led to the development of trains which provided fast travel throughout the country.
Steam Engines require the burning of coal to make steam and push machinery. This meant that the Steam Engine and Coal were perfect complimentary products and the increase in demand for one, would automatically increase the demand for the other.
Railway lines completely transformed countries as more and more goods and people could be transported cheaply and quickly.
From England, steam engines and trains spread to Europe, the US and other parts of the world and for the next 150 years, trains became the preferred mode of transport.
Assembly-line production for goods,as were improved oil refineries.Transportation played a role,like the interstate highways.
