Moderate

Agrarian societies are based on_____________?

Correct answer: A. the use of the plow

  • A. the use of the plow
  • B. hunting animals
  • C. factories
  • D. farm animals

Explanation

Agrarian societies depend mainly on settled agriculture, historically involving the plow to cultivate land. Hunting, factories and farm animals alone do not define an agrarian society.

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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.

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