WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
IMMIGRATION IN INDUSTRIAL AMERICA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Immigrants were paid more because of there was a large number of them.
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Farmers were able to produce more crops causing the prices to fall.
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Big business was able to form a monopoly.
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Immigrants demanded higher paying jobs.
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Detailed explanation-1: -If there was only one pizza restaurant in a town and then a new pizza place opened, the demand for pizza from the first restaurant would drop. The price of gasoline often changes with the demand throughout the year. As people drive more in the summer, gasoline prices tend to rise.
Detailed explanation-2: -It is used by the government to prevent prices from being too low. It is the market price where the quantity of goods supplies is equal to the number of goods in demand. So, the agricultural price support program is an example of a price floor.
Detailed explanation-3: -Demand for most farm products is inelastic. People can consume only so much then they are satiated. Even if price drops they will not buy much more. When demand is inelastic a drop in price that spurs more quantity being sold results in lower revenue and profit for the producer.