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ladessa [460]
3 years ago
9

How does supply behave in the short run and long run?

History
1 answer:
Romashka [77]3 years ago
3 0

Answer:

we seek to understand two types of equilibria, one corresponding to the short run and the other corresponding to the long run. The short run in macroeconomic analysis is a period in which wages and some other prices do not respond to changes in economic conditions. In certain markets, as economic conditions change, prices (including wages) may not adjust quickly enough to maintain equilibrium in these markets. A sticky price is a price that is slow to adjust to its equilibrium level, creating sustained periods of shortage or surplus

Explanation:

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1. If the term "trade" is interpreted strictly, the concept of free trade will be undermined. This is because the literal interpretation will give the State the power to completely control and manage trade, which interferes with the concepts of economic liberalism which states that the State should not meddle in commercial matters beyond the protection of property.

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The winners were the ship owners, business people, and the Dutch people generally.  They profited so much from their exploits of the local Indians by occupying their lands, buying goods, especially spices, at cheap prices, and selling at highly profitable prices.  The riches of the Netherlands can be attributed to the activities of companies like the VOC.

Civilization is another major winner.  The operations of companies like VOC was a necessary evil that opened up the world to myriads of technological advancements and civilization, bringing in Christianity for the salvation of souls.

The ostensible losers were the local Indians and West Africans who were transported across the Atlantic as slaves.  The psychological defeat entrenched by foreign occupation and in slavery had not waned till today.  

But, there is no longer the need to regret the past.  Those whose lands were occupied and those enslaved should come to terms with the extant facts and move forward doggedly.  Afterall, they also profited by being unchained from cruel traditions like the killing of twins.  In addition, many have embraced Jesus Christ, the way to the Father God.

Explanation:

Using such companies as the VOC (Verenigde Oostindische Compagnie in Dutch), the Dutch challenged the dominance of the Portuguese in International Trade and Slavery.  The VOC was created in 1602 and lasted till 1800 with its main purpose as trade (both in goods and humans), exploration of natural resources, and colonization of indigenous peoples.

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