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It happened because the market was oberbought
Which statement best explains financial crises in the global economy?
"A financial crisis in one country can quickly spread to other countries."
A financial crisis in the global economy refers to breaking trust between banks and deep stress in global financial markets. For example, a downturn that starts in the United States will soon spread to the rest of the world, through linkages in the global
financial system. So many banks around the world will have significant losses and will depend on their government that supports them to avoid bankruptcy.
A demand schedule is a table which show the quantity of goods demanded by consumers at different price level. The quantity that will be demanded can be calculated using this table if the price level is given.
Because Thomas Carlyle who was a writer and philospher, made up the phrase that economics is "dismal science" (dismal meaning depressing) because he believed that humans are trapped in a world where population will always grow and limit natural resources and bring widespread misery.
