When Did Sedentary Life Develop in the Middle East

question 8

Multiple Choice

When did sedentary life develop in the Middle East?

• A) before farming and herding
• B) after farming, but before herding
• C) after herding, but before farming
• D) after farming and herding
• E) at the same time that farming and herding developed

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Definitions:

Equilibrium Quantity

The equilibrium quantity is the quantity of goods or services that is supplied and demanded at the equilibrium price, where supply equals demand.

Deadweight Loss

A reduction in economic effectiveness occurring when a good or service doesn't attain market equilibrium in an unrestricted market scenario.

Elastic Supply

A situation where the quantity supplied changes significantly in response to changes in price.

Elastic Demand

A situation where the demand for a product or service significantly changes in response to a change in price.