One of the Most Extensive Trade Networks in the Ancient

question 4

Multiple Choice

One of the most extensive trade networks in the ancient world was that of the Silk Road between the Middle East and what is now ________.

• A) China
• B) India
• C) Japan
• D) Thailand

---

Definitions:

Long-Run Equilibrium

A state in which all factors of production and costs are variable, allowing firms to make adjustments such that supply equals demand, and no economic profits are earned.

Increased Demand

A situation where the desire or need for a product or service grows, often leading to higher sales or consumption.

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, and easy entry and exit from the market.

Long Run

A period in which all factors of production and costs are variable, enabling full adjustment to change.