What is one scenario mentioned in the passage in which high demand and low supply make prices rise very high? What is a similar scenario you have seen or heard about in real life? Do Smith's ideas apply to your modern situation?

(e) a major consequence of the election was that several southern states

the flooding of the nile was not a perfect occurrence. this gave rise to the belief in the gods and a highly stratified social structure. at the top of the social structure were gods such as ra and osiris because the egyptians believed that they controlled the universe. the egyptians tried their best to the gods because if they were happy, then the nile would flood producing an abundance of crops and preventing famine. after the gods came the pharaohs in social status. the egyptian people believed the pharaoh to be a god in mortal form. they had absolute power over the dominion which required protection through the of government officials and soldiers. the rest of the people’s status went in the order of scribes, merchants, artisans, farmers, and finally slaves.