A growth in population
Paid farmers to destroy surpluses.
How does the price system respond to surpluses and shortages? In: Economics [Edit categories]
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The problem of surpluses. Surpluses indicate a waste of labor and materials that could have been applied to more pressing needs of society.
What periods in recent history has the US run budget deficits and budget surpluses?
surpluses is the plural of surplus x3
because they
Over the last 40 years, the United States has experienced budget surpluses in only a few instances, primarily during the late 1990s and early 2000s. The most notable surpluses occurred from 1998 to 2001, with the federal budget achieving a surplus in each of those years. Overall, there have been a total of five years with budget surpluses since 1980.
Governments often create shortages through excessive regulation, price controls, or taxation, which can disrupt supply and demand dynamics. Conversely, surpluses may arise from subsidies or overproduction incentives, leading to excess supply that cannot be sold. These interventions can distort markets, resulting in unintended consequences that affect both consumers and producers. Ultimately, while governments aim to stabilize economies, their actions can inadvertently lead to imbalances.
Food surpluses led to new occupations because if you had a surplus, and you were a farmer, you would no longer need to farm. You could go out and learn new skills and perhaps, you could get a new job, or even create your own!
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Well hominids