1.The amount of output required for consumption by producers at their customary standard of living, plus the amount required to replace capital depreciation and material inputs, is referred to as:

A.Surplus product

B.Net product

C.Total product

D.Necessary product

2.The amount of output allocated towards the consumption of producers at their customary standard of living, plus the surplus product is referred to as:

A.Net product

B.Necessary product

C.Total product

D.Household product

3 An economic system in which a political elite claims the surplus product by taxing farmers and tenants is know as

A.Independent production

B.Central planning

C.Feudalism

D.Agrarian despotism