The Development of Which of the Following Helped to Promote

question 28

Multiple Choice

The development of which of the following helped to promote economic expansion in the early Zhou period?

• A) Writing
• B) Iron technology
• C) Laws
• D) Education

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Definitions:

Consumer Surplus

The difference between the total amount consumers are willing and able to pay for a good or service versus the total amount they actually pay.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product or service, often intended to protect consumers from excessive prices.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive.