One of the Side Effects of Increased Food Production Is

question 21

Multiple Choice

One of the side effects of increased food production is the generation of a surplus, something that helped give rise to

• A) the development of food storage methods
• B) new social roles for food producers, typically specialist roles
• C) stronger trade networks, especially between states
• D) military protection of surplus food stores

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Definitions:

Equilibrium Quantity

The quantity of goods or services supplied is equal to the quantity demanded at the market price.

Equilibrium Price

The price at which the quantity demanded by consumers equals the quantity supplied by producers, resulting in market stability.

Tax Revenues

The financial resources that are accumulated by governments as a result of taxation.

Producer Surplus

The discrepancy between the price at which sellers are prepared to offer a product and the actual price they end up getting.