The Policy of Minimum Government Interference in or Regulation of Economic

question 13

Multiple Choice

The policy of minimum government interference in or regulation of economic activity,
Advocated by Adam Smith and the Classical economists, was known as

• A) the law of comparative advantage.
• B) laissez-faire.
• C) the labor theory of value.
• D) Mercantilism.

Understand the stages of the general adaptation syndrome (GAS) as proposed by Hans Selye.

Recognize the process of primary and secondary appraisal in response to stress.

Apply knowledge of stress management and coping strategies to real-life scenarios.

Understand the impact of lifestyle choices on stress and overall health.

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Definitions:

Employee Empowerment

A managerial practice of giving employees the authority, resources, and skills needed to make decisions and take actions in their workload and processes.

Centralized Decision Making

Centralized Decision Making is a management structure where major decisions are made by a small group of individuals at the top of the organization, leading to quicker decision-making processes.

Cultural Diversity

Cultural diversity is the quality of diverse or different cultures, as opposed to monoculture, in a workplace or society.

Affirmative Action Policies

Measures taken by organizations to increase the employment opportunities of certain groups (e.g., minorities, women) to create a more diverse workplace.