The Oldest and Most Universal Mode of Subsistence Is _______________

question 22

Multiple Choice

The oldest and most universal mode of subsistence is _______________.

• A)food foraging
• B)farming
• C)hunting
• D)pastoralism
• E)fishing

---

Definitions:

Buyers and Sellers

The participants in a market who respectively purchase and offer goods or services for trade.

Substitution Effects

The change in the consumption pattern of goods due to a change in their prices, making consumers replace more expensive items with cheaper alternatives.

Downward-sloping

A descriptor often used for demand curves, indicating that as the price of a good or service decreases, the quantity demanded increases.

Law of Demand

The principle that there is an inverse relationship between the price of a good and the quantity demanded, holding other factors constant.