8. minimum wage is
(1) the minimum price that an employer
can pay a worker for an hour of labor.
(2) the financial and opportunity costs
consumers pay when searching for a good or
service.
(3) a situation in which quantity supplied in
greater than quantity demanded; also
known as excess supply,
(4) situation in which guantity demandes
greater than quantity supplied; also know
as excess demand.

(1) The minimum price that an employer

can pay a worker for an hour of labor.

the industrial revolution pushed the world into modern industrialization. it changed the course of history profoundly. it caused rapid urbanization and pushed cities and countries into development. the industrial revolution began in great britain with a series with new inventions which led to the creation of machines and mass production.

this caused the country to gain wealth and money and become an international superpower. it improved transportation and manufacturing inside the country, pushed people to live in urban areas and britain to become the most powerful nation in the world for a while.