The Term Used for the Manufacture of Chipped Stone Tools

question 7

Multiple Choice

The term used for the manufacture of chipped stone tools, such as most of the Mode 1 Oldowan tools, is

• A) coring.
• B) flaking.
• C) knapping.
• D) cracking.

---

Definitions:

Shortage

A situation where the demand for a product exceeds its supply at a specific price.

Quota Rent

The economic rent a producer earns from the difference between the market price of a good and its supply price due to a quota limit.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Quota Price

The cost associated with acquiring a quota, which is a government-imposed limit on the quantity of a good that can be imported or exported.