Due to the Expansion of Commerce and the Availability of Cheap

question 7

True/False

Due to the expansion of commerce and the availability of cheap and nutritious food,the largest European cities boasted populations of over 1 million people by 1300.

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Definitions:

Supply Curve

A graph showing the relationship between the price of a good and the quantity of that good that sellers are willing to supply.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded.

Actual Price

The price at which a good or service is sold, not considering discounts or adjustments.

Consumer Surplus

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