Which economic principle can be seen at work in the success of merchants such as Levi Strauss during the California Gold Rush?

The economic principle that is most observable in the success of merchants such as Levi Strauss was the supply and demand principle

The reason for this was that he was looking for gold at a time where it was limited and where a lot of people wanted to have gold but weren't willing to go and look for it in the wilderness for example.

states

explanation:

as the old saying goes, all politics are local. state and federal governments affect our daily lives in numerous ways. yet, in our federal system, there is supposed to be a balance between federal and state power. as james madison envisioned it in federalist no. 51, “the power surrendered by the people” would be “divided between two distinct governments,” creating a balance of power that would enable the “different governments [to] control each other.”

this is a good question! i'll do some research and come back when i have the answer!