It's b. You'll learn that the disagreements between Hamilton and Jefferson, among other things, of course, lead to a two party system.
<u>Answer:
</u>
The statement that best explains how a free-market system has a circular flow of influences is that consumer decisions affect producers, and producer decisions affect consumers.
<u>Explanation:
</u>
- In a free-market, the needs and wants registered by the potential customer is considered as demand.
- This demand, along with some other factors related to feasibility, governs the supply of products that come into the market.
- The customers, in turn, have to choose from what the producer has offered.
- Hence, the cycle of consumer and producer decisions affecting each other continues.
Answer:
The colonies depended on Europe because most of the European countries would only allow their colonies to trade with them and became a large manufacturer. Therefore without any other colonies or countries to trade with, the dependence upon Europe began.
Explanation:
I hope I helped you
<u>Question 1</u>
The correct answer is: "FALSE".
The total revenue earned by a firm is computed using the formula:
R= price * quantity
According to the formula, if the term "price" increases, R would increase too. But an increase in price usually decreases the amount demanded by consumers of a certain product. Therefore, if quantity demanded drops in a higher proportion than the increase in price, the final total revenue would decrease. So the final effect depends on the size of the two variations.
<u>Question 2</u>
<u>The determinants of demand are the following:</u>
- Price: inversely related to the quantity demanded, as the larger the price the smaller the amount demanded of a product.
- Income of consumers: directly related. The larger the income earned by an economic agent, the larger the amount demanded of a normal good (there are exceptions, such as inferior goods, for which income and demand are inversely related).
- Prices of related goods of services. If two goods are substitutes, the increase on the price of one, decreases the amount demanded of that product but increases the amount demanded of the other product. It two goods are complements, the increase in the price of one good decreases the amount demanded of it, and the amount demanded of the other product too.
- Tastes or preferences of consumers. If a product is in line with the general preferences of consumers the amount demanded will be large.
- Market expectations. For example, if a price is expected to rise, consumers might prefer to buy now and therefore demand increases at the moment.
The best definition of unicameral is a government with one legislative body, hence the word "uni". The United States had a unicameral type of legislature but was later changed because all the states had the same number of representations, even though a state has a low or high amount of population. The United States changed from a unicameral to a bicameral legislature, which is composed of the Senate and the House of Representatives.
