Consider a simultaneous shift of both the demand curve and the supply curve. Before the shift, the market equilibrium is at a point where the price is 6 and the quantity is 25. Also, before the shift, with each additional unit increase in price, the quantity supplied increases by 5 and the quantity demanded decreases by 5. Now, due to a change in some government policy, the demand increases by 10 at all price levels. At the same time, the supply decreased in such a way that when the price level is 9, the quantity supplied is 30. What is the new market equilibrium price after this simultaneous shift

say it in english maybe we can

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

decentralization can the employees to get more involved in the business decision making

answer; institution;