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Alexus [3.1K]
3 years ago
7

More demand less supply increase the market price? justify ​

Social Studies
2 answers:
Fantom [35]3 years ago
8 0

Answer:

Increases in supply and demand pull the price in different directions. If demand increases more than supply does, we get an <em><u>increase of price</u></em>. If supply rises more than demand, we get a decrease in price. If they rise the same amount, the price stays the same.

frosja888 [35]3 years ago
7 0
If more people want something that isn’t widely available, the product has more value because there are not lots of products but there are lots of people who want the product. a producer could very easily jack up the price because he knows he has a few of what lots of people want.
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In 1507, a famous mapmaker used Vespucci's descriptions of his travels to create a map in which he called the landmass America in the explorer's honour.  

At the time, countries had feminine names, so the name went from Italian Amerigo to Latin (m.) Americus to Latin (f.) America.

All North and South America was considered as one entity, and the name was placed on South America (see image).

Within three decades, the names became North and South America.

However, North America quickly became divided into areas named after the countries that had "discovered" them: New France, New England, New Spain, etc. Local explorers probably used the local names of the territories through which they were travelling.

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