By About 700 B

question 59

Multiple Choice

By about 700 B.C.E., which of the following replaced the aristocratic cavalryman in Greek warfare?

• A)helots.
• B)hoplites.
• C)poleis.
• D)mercenaries.
• E)Macedonians.

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Definitions:

Price Elasticity of Demand

A measure that calculates the responsiveness, or elasticity, of the quantity demanded of a good to a change in its price.

Price Ceiling

A government-imposed limit on the price charged for a product, intended to prevent prices from rising too high.

Market Clearing Price

The price at which supply equals demand in a market, leading to no unsold surplus or shortages.

Market Clearing Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded; also known as the equilibrium price.