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The demand for manufactured goods in Europe rose due to several factors, including the Industrial Revolution, which significantly increased production capabilities and efficiency. Urbanization led to a growing population in cities, creating a higher demand for consumer goods. Additionally, advancements in transportation, such as railways and steamships, facilitated the distribution of goods, making them more accessible to a broader audience. This combination of increased production, urban growth, and improved logistics fueled consumer demand across the continent.
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How can population changes affect demand for certain goods?
immediate demand for a good will go up if it's price is expected to rise. this is how population changes affect demand for certain goods.
What dies charging high prices for hoarded goods called?
Rise and Demand
What happens to demand for normal and inferior goods when there is a decrease in your income?
the demand for inferior goods varies inversely with income. If your income rises then the demand for rice will decrease. the demand for normal goods varies directly with income. If your income rises the demand for these goods will rise as well. Most goods are normal goods ie, cars, new homes, furniture, steaks, and motel rooms. Economics, Stephen L Slavin 10e
How did the crusades increase demand for goods?
The Crusades increased demand for goods by facilitating trade between Europe and the Eastern Mediterranean, where Crusaders encountered a wealth of luxury items such as spices, silk, and textiles. As European knights and merchants returned home, they brought these exotic goods with them, sparking interest and desire among the European population. Additionally, the Crusades helped establish new trade routes and connections, leading to a greater exchange of products and ideas. This heightened demand ultimately contributed to the growth of markets and the rise of a merchant class in Europe.
How did the rise of cities challenge the economic and social orders of the time?
The rise in the cities challenged the economic and social class by Raising the demand of goods
Which of the following factors contributed to the rise of consumerism?
Manufactured goods were more affordably priced.
How can population changes affect demand for certain goods?
immediate demand for a good will go up if it's price is expected to rise. this is how population changes affect demand for certain goods.
How did the slave trade contribute to the rise of industry in Britain?
increasing the demand for goods
What dies charging high prices for hoarded goods called?
Rise and Demand
What happens to demand for normal and inferior goods when there is a decrease in your income?
the demand for inferior goods varies inversely with income. If your income rises then the demand for rice will decrease. the demand for normal goods varies directly with income. If your income rises the demand for these goods will rise as well. Most goods are normal goods ie, cars, new homes, furniture, steaks, and motel rooms. Economics, Stephen L Slavin 10e
How did the crusades increase demand for goods?
The Crusades increased demand for goods by facilitating trade between Europe and the Eastern Mediterranean, where Crusaders encountered a wealth of luxury items such as spices, silk, and textiles. As European knights and merchants returned home, they brought these exotic goods with them, sparking interest and desire among the European population. Additionally, the Crusades helped establish new trade routes and connections, leading to a greater exchange of products and ideas. This heightened demand ultimately contributed to the growth of markets and the rise of a merchant class in Europe.
How did the rise of cities challenge the economic and social orders of the time?
The rise in the cities challenged the economic and social class by Raising the demand of goods
How does consumer income affect the demand for normal and inferior goods?
A consumers income can affect their demand for most goods, for normal goods if the consumers income increases then there is a demand for more normal good, but a fall in income would cause a shift to the left for the demand curve, this shift is called a decrease in command. For inferior goods, an increase in income causes demand for these goods to fall, inferior goods are goods that you would buy in smaller quantities, or not at all, if your income were to rise and you could afford something better.
If demand falls and supply falls will equilibrium price rise?
In this case supply of goods surplus in the market and then their is cahnce to decreases in prices for the purpose of rises in demand.
What will happen when the price of goods drop?
Supply & Demand, EconomicsEconomic studies tell us that when the price of a good drops, demand will rise. Furthermore, when the price of a good rises, demand will go down.
Are elastic or inelastic goods are still in demand even if even if prices rise?
Inelastic goods, such as gas or energy based products will always be in demand. This is owing to the fact that everyone utilizes the generally inexpensive goods. Elastic goods, on the other hand, are considered a luxury item/s, such as a Corvette or designer clothing.
What was the rise of consumerism aided by?
the answer is to lower prices for manufactured goods
