The Zhou System of Decentralized Government, in Which Rule Was

question 32

Multiple Choice

The Zhou system of decentralized government, in which rule was conducted by landowners who owed loyalty and military service to their superiors and protection to those under them, was called fengjian, meaning:

• A) imperialism
• B) republicanism
• C) feudalism
• D) Confucianism

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Definitions:

Industry Supply Curve

A graphical representation that shows the relationship between the price of a good and the total output all firms in the industry are willing to produce.

Marginal Value

Additional benefit derived from purchasing one more unit of a good.

Consumer Surplus

The gap between the price consumers are ready to pay for a good or service and the price they actually incur.

Marginal Revenue

The surplus revenue acquired from the sale of one more unit of a good or service.