__________ Is the Transformation of an Economy from One Dominated

question 82

Short Answer

__________ is the transformation of an economy from one dominated by agriculture to one dominated by manufacturing.

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Definitions:

Supply Decrease

A situation in economics where the amount of a certain good or service that producers are willing to provide at a specific price level reduces.

Demand Decrease

A reduction in the quantity of a good or service that consumers are willing and able to purchase at various prices.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a certain price over a specific period.

Quantity Demanded

The total amount of a good or service that consumers are willing to purchase at a specific price level.