How Are Demographic Changes That Resulted from Industrialization Best Described

question 40

Multiple Choice

How are demographic changes that resulted from industrialization best described?

• A)The aristocracy moved from cities to escape the ill effects of factory development.
• B)The new middle class moved to the suburbs of cities to escape the urban poor.
• C)Laboring classes became more affluent and varied in their places of residence.

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Definitions:

Demand Equation

A mathematical expression that calculates the quantity of a good or service demanded at various prices.

Supply Equation

A mathematical representation that describes the relationship between the price of a good and the quantity of the good that suppliers are willing to sell.

Price Floor

A regulatory measure that sets the lowest legal price for a good or service to prevent market prices from dropping below a specified level, ensuring producers' welfare.

Shortage/Surplus

A shortage occurs when demand exceeds supply, while a surplus happens when supply exceeds demand, both of which can lead to market adjustments.