he demands of the barons were recorded in the document known as the Articles of the Barons. Following further discussions with the barons and clerics led by Archbishop Langton, King John granted the Charter of Liberties, subsequently known as Magna Carta, at Runnymede on 15 June 1215
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Food surpluses affected the people and populations because the availability of surplus food means an individual will most likely have more children. This is because food is needed for survival and having it excess can also help in providing more money and other resources.
Increase in population helped and allowed the ancient civilizations to grow and prosper as a result of the increase in the population helping in different areas of the economy of the country. This caused a ripple effect by increasing trade between countries which also had a positive effect on the civilization process.
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Incomplete Contracts: Do not optimally use all commonly observ-able information. Will be renegotiated at some point in time (bargain-ing). Reasons for contractual incompleteness: Bounded rationality: Parties cannot write long-term state-contingent contracts. Cannot foresee all possible future states.
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