The Pharaohs Continually Worked to Improve Trade with Other Regions

question 1

Multiple Choice

The pharaohs continually worked to improve trade with other regions and peoples,because they

• A) hoped to expand their territorial base.
• B) hope to sell their excess crops for a profit.
• C) needed such Egyptian rarities as timber, ivory, and gold
• D) hoped to purchase large numbers of slaves.
• E) wanted to serve as middlemen between the Mediterranean west and Southwest Asia.

---

Definitions:

Perfectly Competitive

In a perfectly competitive market, numerous small firms sell identical products, and no single seller can influence the market price.

Game Theory

A theoretical framework for conceiving social situations among competing players and analyzing strategies in situations of conflict and cooperation.

Collude

To cooperate with others secretly or unlawfully to deceive or gain an unfair advantage, often in a way that is deceitful or fraudulent.

Cartels

Organizations or associations formed by businesses in the same industry to regulate production, fix prices, or otherwise control and limit competition.