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What Important Contribution Did Heraclides of Pontus Make to the Field

question 32

Multiple Choice

What important contribution did Heraclides of Pontus make to the field of astronomy in the fourth century b.c.e.?


Definitions:

Shortage

A market condition where demand exceeds supply.

Surplus

A situation where the quantity of a good or service supplied exceeds the quantity demanded, often resulting in excess stock and potential price reductions.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product or service, intending to protect consumers from excessive prices.

Price Floor

A price floor is a government- or authority-imposed minimum price set above the equilibrium price, preventing the market price from falling below it.

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