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The Recent Discovery of H

question 47

Essay

The recent discovery of H.floresiensis has captivated scientists and the general public alike.Why? What is so surprising about this find? Based on what you have learned so far about human evolution,what seems to you the more plausible explanation for H.floresiensis?


Definitions:

Producer Surplus

The divergence between the price at which sellers are ready to offer a good or service and the price they actually obtain.

Economic Efficiency

A state in which resources are allocated in a way that maximizes the total benefit received by society from those resources.

Consumer Surplus

The divergence between the price consumers are willing to pay and what they really spend on a good or service.

Floor Price

The minimum price set by regulation, often by the government, below which a commodity cannot legally be sold in the market.

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