Price determination depends equally on demand and supply. It is truly a balance of the two market components. To see why the balance must occur, examine what happens when there is no balance, for example when market price is below that shown as P in Figure 1. At any price below P, the quantity demanded is greater than the quantity supplied.
Ivan Vasilevich; 3 September [ O.S. 25 August] 1530 â 28 March [ O.S. 18 March] 1584), commonly known as Ivan the Terrible (Russian: Ð¸Ð²Ð°ÌÐ½ Ð³ÑÐ¾ÌÐ·Ð½ÑÐ¹â (helpÂ·info) , Ivan Grozny), was the Grand Prince of Moscow from 1533 to 1547 and Tsar of All the Russias from 1547 until his death.
Tsardom of Russia - Time of Troubles. 1  Ivan IV was succeeded by his son Feodor, who was mentally deficient. 2  In 1598 Feodor died without an heir, ending the Rurik Dynasty. 3  Subsequently, Russia entered a period of continuous chaos, known as The Time of Troubles (ÑÐ¼ÑÑÐ½Ð¾Ðµ Ð²ÑÐµÐ¼Ñ).