How Far Back in Time Do We Find the First

question 83

Multiple Choice

How far back in time do we find the first evidence for the domestication of sheep?

• A) 1,000 years
• B) 3,000 years
• C) 10,000 years
• D) 15,000 years

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Definitions:

Alfred Marshall

He was a prominent British economist in the late 19th and early 20th centuries, best known for his significant contributions to the principles of microeconomics.

Price Determination

The process by which the prices of goods and services are established based on supply and demand conditions.

Supply and Demand

The fundamental economic model describing how prices vary as a result of a balance between product availability and the desire of buyers.

Quantity Demanded

The aggregate quantity of a product or service that buyers are prepared to buy at a specific price point.