The System of Peasant Farming and Land Distribution in Medieval

question 30

Multiple Choice

The system of peasant farming and land distribution in medieval villages was known as

• A) enclosure.
• B) the three-field system.
• C) the open-field system.
• D) convertible husbandry.
• E) the leasehold.

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Definitions:

Long-Run Equilibrium

A state in which all factors of production and costs are variable, allowing for the adjustment of all inputs, leading to optimal allocation of resources in the market.

Increasing Cost Industry

An industry in which production costs increase as output expands, typically due to factors such as input limitations and increased demand for inputs.

Long-Run Supply Curve

A curve showing the relationship between price and quantity supplied that takes into account all possible adjustments in inputs and outputs.

Constant-cost Industry

An industry where the costs of production do not change as the total output in the industry changes.