A market is said to be in equilibrium if the supply and demand curve intersects.
<u>Explanation</u>:
A supply of a certain product meets the demand of that product i.e., if the "supply" and "demand" of the product is equal, then the market is at "equilibrium". The price corresponding to it is then called a market-clearing price or equilibrium price whereas the quantity is known as the equilibrium quantity. But this comes with two conditions of surplus and shortage when there is a change in the supply and demand curve. So, a market to be at equilibrium having an equilibrium price, it is always important that the supply meets the demand.
They influence the beliefs of the people and help them adjust better in the society.
<u>Explanation:</u>
The effect of religion on the lives of the people in the society is great. The religion that the people follow affects the beliefs and the values of the people.
It also helps them to adjust better in the society where the same religion is followed by the other people of the society also. People who follow a different religion find it a little tough to adjust in the society.
Despotism means the excersize of absolute power especially in a cruel or opressive way.
Answer:
Advertising created demand for new products, thereby changing the buying habits of Americans.
It has steadily declined. The unions are not used nowadays at all. In the 70s approximately 35% of people were unionized. In 2013 only 11.5% of workers belong in a union and fight for workers rights. Unions strength has weakened because people are not interested in them.
