Answer:
Option: The discovery of oil made some Middle Eastern nations wealthy.
Explanation:
The oil export in the Middle East started in the 20th century when the British were surveying for energy sources and found oil in Iran. British made Persia (Iran) their regular supplier of oil. After World War II, Europe recovery from the war and blooming America economy pushed the need for oil from the Middle East. Iran started the process of nationalization of oil in the 1950s so that the local government could seize control over oil resources and regulate the prices. Ultimately, different nations also followed this policy.
The assassination of Archduke Franz Ferdinand and his wife.
C woman never legally enlisted in army
Equilibrium occurs when supply and demand coordinate to:
(B) set prices and production.
Market equilibrium is achieved when supply and demand are equal. This would happen when prices and production are maintained at levels where demand and supply remain consistent. Economic theory proposes that there is a particular price for a product or service which brings demand and supply into balance, which economists term the equilibrium price. In typical markets, equilibrium is not achieved as a constant state of affairs. Rather, supply and demand will fluctuate around what would be the theoretical equilibrium price. If prices rise due to high demand, this signals producers to expand production to meet the demand for greater supply. If there is too much supply available, market prices will drop as suppliers work to sell their surpluses.
