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What happened to the supply of goods which the people of the US could buy and use each day?
Wiki User
∙ 9y ago
During the economic crisis, the supply of goods that people of the US could buy and use each day became scarce. This caused a panic which increased the buying making supplies dwindle even faster.
Wiki User
∙ 9y ago
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Why does an economy's strength ultimately reside in its people?
People choose which goods to supply and what goods to demand; they supply labor and develop new technologies.
Why did the people in World War 2 have to register to buy things?
It was the rationing method for allotment of goods so that all could obtain a share of goods that were in short supply.
What decrease in the aggregate supply?
A decrease in the supply of goods causes inflation because people are willing to pay higher prices for scarce goods.
When the Soviet union spent to much money on their military what happened?
They could not produce enough consumer goods to keep people happy
Why was there an overproduction of consumer goods during the Great Depression?
People could afford to buy as many goods during the depression, and thus there was a much lower demand in relation to the supply of goods that was provided. This led to an overproduction of goods--too many were produced in relation to the amount that was demanded.
When the soviet union spent too much on their military what happened?
They could not produce enough consumer goods to keep people happy -APEX
What do you call in economic terms buying and selling of goods?
Demand and Supply. Demand= buying goods and services. Supply=selling goods and services.
What is it called when you make profit off of goods that are in short supply?
In modern times, virtually nothing has been in short supply, but during World War II and for a few years afterwards, lots of goods were rationed and in short supply. People who were involved in the illegal supply of these goods were known as 'spivs' and the trade was known as the 'black market' and they were 'profiteering'.
What did the industrial revolution have on the supply of goods?
more goods were made
Households pay firms for goods and services. Firms supply households with goods and services. The purchase and supply of goods and services takes place in the .?
product market
Households pay firms for goods and services. Firms supply households with goods and services. The purchase and supply of goods and services takes place in the?
product market
What is the process of the availability of the goods compared to the number of people who want to buy the products known as?
supply and demand
