Answer:
Could you please be more specific?
Explanation:
<span>Historians have labeled the years from 1870-1914 as the period of the Second Industrial Revolution. While the First Industrial Revolution caused the growth of industries, such as coal, iron, railroads and textiles, the Second Industrial Revolution witnessed the expansion of electricity, petroleum and steel.</span>
Because that was the only support they could really get, mainly because the government always sided with the factory owners because they were the ones making the money for them. <span />
Although the term "bureaucracy" was not coined until the mid 18th century, organized and consistent administrative systems are much older. The development of writing<span> (ca. 3500 BC) and the use of documents was critical to the administration of this system, and the first definitive emergence of bureaucracy is in ancient </span>Sumer<span>, where an emergent class of </span>scribes<span> used </span>clay tablets<span> to administer the harvest and allocate its spoils.</span> Ancient Egypt<span> also had a hereditary class of scribes that administered the </span>civil service<span> bureaucracy.</span>
The intersection between the supply curve (an upward sloping function) and the demand curve (a downwardsloping function) determines the equilibrium point of a market. The equilibrium is the point which represents the exact market price and quantity demanded/supplied at which the wishes of consumers and suppliers meet.
<u>When the market is not in the equilibrium point</u>, two different situations could be happening:
- Excess demand: this is a situation in which the market price is located below the equilibrium price. The quantity demanded at that market price would exceed the amount that the producers are willing to produce and supply at that same price. Therefore, not all consumers are able to obtain the product they desire and there is rationing.
- Excess supply: at a certain price located above the equilibrium, the quantity that suppliers are willing to produce exceeds the amount demanded by consumers at that more expensive price. Therefore, suppliers would not be able to sell their whole production in the market.
