Which of the Following Is True of Early Civilizations

question 15

Multiple Choice

Which of the following is true of early civilizations?

• A)They rarely had trade networks.
• B)Agriculture is the only component needed for a civilization.
• C)Civilizations had a combination of elements including government and social structure.
• D)They did not include any rural areas but were based solely in large cities.
• E)They had no economic divisions or occupational specialties.

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Definitions:

External Agency

An outside organization or group that provides services or support for another entity's objectives.

Equilibrium Price

The price at which the quantity of goods demanded by consumers equals the quantity of goods supplied by producers, leading to market stability.

Adverse Selection

A situation in which asymmetric information leads one party in a transaction to make unfavorable selections, often seen in insurance markets where individuals with higher risks are more likely to purchase insurance.

Insurance Product

A financial product sold by insurance companies to provide coverage against specific risks in exchange for premium payments.