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Why there was a great demand for silk and cotton goods during the 17001500?
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What caused two economic recessions in the united state during the late 1800s?
There were more goods available than there was demand for them
What goods were exchanged along this silk route?
the goods were silk and cotton
What did Constantinople produce during the Silk Road?
food such as berries, grapes, and parsley. they also traded goods such as silk, and cotton
Who was the first to India's cotton goods to Europe?
lAexander the great
What cause panics in the 1800s?
The supply of goods exceeded the demand
Is it true during a recession demand for goods increases and employment rises?
Just the opposite happens. In a recession, unemployment increases and the demand for goods decreases.
Consumers expect certain goods and services to be available on demand during?
both high and low demand periods
What important role did the demand for cotton play in the industrialrevolution?
Eli Whitney invented the cotton gin, which made cotton harvesting much easier for southern farmers. The ease of growing and harvesting then caused it to become the chief industry of the south, and resulted in the Southern States having a strongly agrarian economy.
What following goods will least likely suffer a decline in demand during a recession?
toothpaste
What is price of related goods in demand?
Price of related goods in demand means prices of substitute goods and complementary goods.
How do complements affect demand?
Because of complimentary goods demand increase.
Will there always be a demand for goods?
Goods fill needs; so as long as there is human life, there will be a demand for goods.
How does price help to connect the availability of goods to the demand for goods?
The price of a given commodity will determine both the demand and the availability of goods. If the price is reduced the demand of the goods will increase and the availability of the goods will reduce.
What are some goods during 1860?
Some goods sold and traded during the 1860's were animals, plants, cotton, wool, wine, beer, animal furr's, and foods grown.
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 secondary demand?
It is the demand for specific goods/services of a firm. Due to differentiation of goods in the industry.
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.
