The Rules of the Game Refer To

question 11

Multiple Choice

The rules of the game refer to:

• A)any factor that facilitates production and exchange,such as tax laws and property rights.
• B)a gradual but consistent change in the price level until a fair price is attained.
• C)the set of election laws that ensure that all elections are fair.
• D)the rules that a firm must follow in order to earn a profit.
• E)the requirement that households must supply labor to firms.

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Definitions:

Horticultural Societies

Those in which people domesticate plants and use simple hand tools to garden. Such societies first emerged about 10,000 years ago. Horticulture increases the food supply and makes it more dependable. This increases average settlement size and permanence, the division of labor, productivity, and inequality above the levels typical of foraging societies.

Agricultural Society

A society primarily engaged in agriculture, focusing on farming and livestock raising as its main economic activities.

Revolutionary Technology

Innovations that radically change existing industries, economies, and societal practices.

Genetic Engineering

The direct manipulation of an organism's genes using biotechnology to alter its characteristics, often for purposes like improving health, enhancing resistance to diseases, or modifying physical traits.