The Exchange of Land for Service or Money in the Middle

question 10

Multiple Choice

The exchange of land for service or money in the Middle Ages resulted in a political system that:

• A)was rigidly hierarchical.
• B)created many different types of ties,both horizontal and hierarchical.
• C)only created horizontal ties.
• D)was controlled wholly by the king.
• E)favored petty lords over lords who held a great deal of land.

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Definitions:

Revealed Preference

A theory suggesting consumers' preferences can be inferred from their purchasing habits.

Prices

Monetary values assigned to goods and services in a market, determining how resources are allocated among consumers and producers.

Weak Axiom

A less stringent rule or principle that is accepted as valid, often used in economic theories to make assumptions about consumer behavior.

Revealed Preference

An economic concept suggesting that the choices consumers make reflect their preferences, assuming that their decisions will maximize their satisfaction.