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What was a major problem for the colonies during the revolution?
The high price and scarcity of goods.
How do you measure the change in value of money?
Price indices are used to measure the general price level change in an economy. Price levels are calculated periodically using a price index and compared with previous years. The price index usually contains select goods and services that affect consumer spending, these include food and drink, household goods and services, clothing, etc.
Following the Industrial Revolution in theUnited States the shift from making productsby hand at home to producing them infactories resulted?
Mass-produced goods available at a cheaper price.
How was the cottage industry affected by the individual revolution?
The Industrial Revolution meant that manufacturing increased and goods could be sold at a lower price. Cottage industry could not compete, and many country people and farm labourers moved into the cities and the factories.
What Effects of the railways in Victorian times?
time landscape canals price goods
How does the price system affect goods and services?
goods and services whether it may be anything price will be there for it
How do price changes affect equilibrium?
Price changes affect the equilibrium price and quantity by Serving as a tool for distributing goods and services.
What effects supply and demand?
Fluctuations in the price of goods. The affect of demand on price is directly proportional and supply's affect on price is indirectly proportional.
How do prices affect equilibrium?
Price changes affect the equilibrium price and quantity by Serving as a tool for distributing goods and services.
What was a major problem for the colonies during the revolution?
The high price and scarcity of goods.
How did improvements in transportation affect the price of goods?
Roads made it possible for cheaper domestic transportation of goods
What makes a price elastic?
If a change or increase in price will affect demand. Elastic goods are usually those that the consumer does not NEED to purchase, such as luxury goods. When the producer increases price, demand will usually increase. Inelastic goods are those that the consumer needs to buy no matter what the price is, such as milk or salt. A sale or price increase won't affect the demand at all.
What affect will reducing trade barriers between countries have on the price of goods?
the effect reducing trade barriers between countries have on the price of goods are types of names
How does price changes affect equilibrium?
By serving as a tool for distributing goods and services.
What affect on agriculture will increasing fuel costs have?
It will increace the price of primary goods.
How do price incentives affect people's behavior when shopping or buying goods?
the prices lowered
How does consumer expectation affect demand for goods?
Consumers will buy more of a good when its price is lower and less when its price is higher.
