One benefit of using a chemical formula is we can know the number of reactants and products in the formula.
If you eat at several Mexican restaurants and decide that Mexican food is hot, then you are technically using "inductive" reasoning, since this would be a "bottom to top" approach of reaching a conclusion.
In Confucianism four-class system the nobles sat at the top of the hierarchy. So the answer is nobility.
The demand for the product would go down considering they would have to pay more for the product they wanted.
Its land in the Northwest