The Silk Road was a network of trade routes connecting China and the Far East with the Middle East and Europe. Established when the Han Dynasty in China officially opened trade with the West in 130 B.C., the Silk Road routes remained in use until 1453 A.D., when the Ottoman Empire boycotted trade with China and closed them. Although it’s been nearly 600 years since the Silk Road has been used for international trade, the routes had a lasting impact on commerce, culture and history that resonates even today.
1)d. The quantity of a product that consumers are willing and able to buy at each unit price
2)C. The product has a lower price
3)c. The quantity demanded for chips will decrease and the demand for salsa will decrease.
4)I didn't understand your question about this one but I can explain the graph:-)
according to this diagram
the supply curve has shifted backward i.e supply is decreased so, with the decrease in supply the price of good increases and as a result of increased price the quantity demanded decreased.
5)B. Average consumer income has decreased, with Good A being an inferior good. ( because as you can see in the diagram that demand for good A is increased)
demand for inferior goods increases with the decrease in income. For example: if your income decreases you'll start travelling from bus instead of train.
6)B. Stacy wanted ice cream a bit more than a cupcake but chose the cupcake when the price of ice cream increased.
Is job shadows an option if so that is your answer.
