Answer: law of supply,
Explanation:
Law of supply depicts the producer behavior at the time of changes in the prices of goods and services. When the price of a good rises, the supplier increases the supply in order to earn a profit because of higher prices.
When the price of the good was at P3, suppliers were supplying Q3 quantity. As the price starts rising, the quantity supplied also starts rising.
<span>These are all arguments from "The Wealth of Nations." In this book, Adam Smith laid out the basics of modern-day capitalistic thought and the idea of free-markets. He argued that the basic premise of a free society is to maximize the ability to earn based upon the skills and abilities to innovate that one has at their disposal.</span>
Answer:
silk, the Chinese also exported (sold) teas, salt, sugar, porcelain, and spices. Most of what was traded was expensive luxury goods. This was because it was a long trip and merchants didn't have a lot of room for goods. They imported, or bought, goods like cotton, ivory, wool, gold, and silver.
Explanation:
The Indian Ocean, Atlantic is to the West
Answer:
New England was settled by Puritans seeking freedom from religious persecution in Europe . They formed a “covenant community” based on the principles of the Mayflower Compact and Puritan religious beliefs and were often intolerant of those not sharing their religion.
