Which of the Following Statements Is Correct About the Nature

question 21

Multiple Choice

Which of the following statements is correct about the nature of the Zhou merchant and slave classes?

• A)Merchants were independent operators and slaves were a majority of the population.
• B)The merchants traded only in domestic goods and the slaves worked only in irrigation.
• C)The merchants were the property of the local lord and the slaves were probably individuals who had been seized in warfare.
• D)The merchants became the de facto rulers who humanely freed their slaves.
• E)Under the Zhou the merchant classes were enslaved by the emperors.

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Definitions:

Firm Increases Price

A strategic decision by a company to raise the selling prices of its products or services, possibly due to increased costs or in response to high demand.

Rational

Referring to thinking or decision-making that is based on logic or reason rather than emotions.

Optimizing

The process of making something as effective, functional, or profitable as possible.

Consumer Surplus

The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.