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.
Yaroslav the Wise (image from www.hrono.info) Yaroslav the Wise was the Grand Prince of Kiev since 1016 until his death in 1054 (with break in 1018-1019). As many historians believe, under Yaroslav Kievan Russia reached a peak of its cultural bloom and military power. Way to Kiev. Yaroslav was born the son of Vladimir the Great and Vladimir's third wife, Rogneda of Polotsk.