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What did the government do to help eliminate the crop and product surpluses?
Paid farmers to destroy surpluses.
How does the price system respond to surpluses and shortages?
How does the price system respond to surpluses and shortages? In: Economics [Edit categories]
What are the disadvantages of a controlled economy?
The problem of surpluses. Surpluses indicate a waste of labor and materials that could have been applied to more pressing needs of society.
What does voluntary trade mean?
voluntary trade probably mean means to volunteer trade.
What periods in recent history has the US run budget deficits and budget surpluses?
What periods in recent history has the US run budget deficits and budget surpluses?
Do countries have trade surpluses when they export more than they import?
yes
Why did surpluses lead to the growth of trade?
Surpluses led to the growth of trade because excess goods could be exchanged or sold to acquire other goods that were scarce. This created a system of trade where different regions specialized in producing certain goods and then traded them for items they could not produce themselves. This allowed for the expansion of trade networks and facilitated economic growth.
Did the US consistently experienced balance of trade surpluses over the past thirty years?
no
What did surpluses led directly to?
Surpluses often lead directly to increased investment and economic growth, as excess resources can be reinvested into production, infrastructure, or innovation. They can also facilitate savings and consumption, contributing to improved living standards. Additionally, surpluses can create opportunities for trade and the accumulation of wealth, potentially leading to greater economic stability.
What effects did food surpluses have on people living in settlements?
In the case of ancient peoples living in agricultural settlements, food surpluses were part of the reason these settlements grew into larger civilizations. A food surplus of a product another settlement lacked became barter material in exchange for other food products the first settlement lacked. Food for gold and silver was another result of selling off a food surplus to nations that needed the food and had gold to spend. Expansion of settlements led to trade and better means of transportation in order to trade a food surplus such as corn for example.
What did the government do to help eliminate the crop and product surpluses?
Paid farmers to destroy surpluses.
What items did Sumerians trade?
They traded wood, metal, grains, dates, copper, tin, barley, and wheat. They also exported surpluses to all different places.
How does the price system respond to surpluses and shortages?
How does the price system respond to surpluses and shortages? In: Economics [Edit categories]
What effect did food surpluses have on people living in towns?
Food surpluses allowed towns to grow and thrive by supporting larger populations, as they ensured a stable food supply. This abundance enabled people to engage in specialized trades and crafts, fostering economic diversification and cultural development. Additionally, it facilitated the rise of markets and trade networks, enhancing social interactions and the exchange of ideas. Overall, food surpluses contributed to the urbanization and complexity of town life.
Why are for surpluses necessary for civilization to develop?
no
What did surpluses create?
A growth in population
Why do surpluses develop?
Surpluses develop when the supply of a product or service exceeds its demand. This can occur due to factors such as overproduction, decreased consumer interest, or changes in market conditions. Additionally, seasonal variations and economic shifts can lead to temporary surpluses. When surpluses occur, they often result in price reductions to encourage consumption and restore equilibrium in the market.
