All of the Following Contributed to Cross-Mediterranean Trade and Commerce

question 51

Multiple Choice

All of the following contributed to cross-Mediterranean trade and commerce EXCEPT:

• A) Innovations suggested by observation of Islamic and Byzantine merchants.
• B) Improvements in astrological tables.
• C) Stern-mounted rudders, in use as early as 1180.
• D) The lateen sail, adapted from those used by Muslim sailors.

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Definitions:

Quantity Demanded

The specific amount of a product that consumers are willing to buy at a given price, assuming all other factors are held constant.

Price Elastic

A measure of how much the quantity demanded of a good responds to a change in the price of that good. It indicates the sensitivity of consumers to price changes.

Total Revenue

The total income received by a firm from the sale of its products or services before any expenses are deducted.

Total Revenue

The overall revenue a business earns from sales of goods or provision of services throughout a given timeframe.