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.
Answer:
how available money is to spend
One of the main ways they were similar was in their form of government. Both Athens and Sparta had an assembly, whose members were elected by the people. Thus, because both parts of Athens' government had leaders who were elected, Athens is said to have been the birthplace of democracy. Spartan life was simple.
Sure hope this helps you
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Answer:
Your answers would be Spanish and Quetzalcoatl, respectively.
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When the Aztec first encountered <em><u>Spanish</u></em> explorers the believed the men heralded the second coming to their god <em><u>Quetzalcoatl</u></em>.
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Definitions:
Quetzalcoatl:
The Quetzalcoatl, known as the feathered serpent, was a god for most of the people in the Mesoamerican regions.
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Explanation:
The reason why "Spanish" and "Quetzalcoatl" would be the correct answer because they believed that the arrival of the Quetzalcoatl god was from the Spanish people. When the Spanish explorers came to the Mesoamerican region from places like Spain, they were just exploring the land that they stopped on, but they people that were already on the land thought that they were special people. When the Aztec encountered the Spanish explorers, they treated them like they were gods, even though they didn't have any evidence showing that they were gods. At first the Spanish explorers found this very weird, because they were just random people to them, but they rolled with what the Aztec's thought they were. The Spanish explorers actually used this to their advantage. Because the Aztecs thought they were a gift from god, they gave them and treated them with whatever they asked, and this helped the Spanish settle in the land because the Aztecs obeyed all of their orders. The Aztecs believed that if they didn't follow their orders, the gods would not accept them, so they obeyed the Spanish orders. To sum it all up, they believed that the Spanish explorers was the coming of Quetzalcoatl, but it really wasn't.
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<em>-Julie</em>
