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Monopoly: There is a single seller in the market
Oligopoly: every company in this market structure is aware of the actions of the other companies (oligopolies are a small number of companies controlling the markets- there are elements of collusion in this structure because the firms work together to control prices and the market)
Perfect Competition: There are no barriers to entry (lots and lots of competing companies that each have a small share of the market)
Collusion: 3 companies secretly enter into a price agreement (this is illegal in many cases)
<u>Question 1</u>
The foreclosure is the process through which a lender tries to recover the amount of a loan from a borrower who cannot afford to meet the repayment schedule and, is forced to sell the asset used as the collateral for the loan. In the case of a mortgage loan, such asset was the house or any other underlying property.
As the value of the houses in the market had significantly dropped due to the reduction in demand, with the sale of the house the borrowers could not give back the whole amount of the loan and, even after selling the collateral, they were still indebted for some quantity.
<u>Question 2</u>
Farmers were victims of the <u>overproduction crisis</u> (reason 1), which was intesified due to the simultaneous <u>decrease of the demand figures</u> (reason 2<u>)</u>.
The arrival of mechanization, enhanced both productivity and production in farms. The initial effects were very positive, as it allowed farmers to reduce costs and increased profits. As more production was sold, more people was hired and more money was invested on equipment to keep the growing output levels. It constituted a cycle: more people, more equipment, more production (once and again).
At some point there were large production surpluses and, simultaneously, demand plunged. There were big amounts of unsold items, farmer's profits significantly decreased, they had to fire employees, to liquidate investments, etc. In turn, the dismissed employees lost their wages and started to demand a lower amount of consumption goods and overall demand levels decreased even more, worsening the situation of farmers. It became a downward spiral that brought bankruptcy to many farmers.
Market economy is the way of people producing and exchange goods and services
Answer:
I think its because the transfer of ideas and technology from Egypt and Southwest Asia to the budding civilizations of Europe.
Explanation: