Once a Surplus Is Accumulated,more People Can Engage in Trade

question 11

Multiple Choice

Once a surplus is accumulated,more people can engage in trade.Initially,the surplus goods of preindustrial economies are distributed through a system of______________,which is the direct exchange of goods or services considered of equal values by the traders.

• A)bargain
• B)vendor supply
• C)barter
• D)line feeds

Comprehend the foundational principles of Total Quality Management (TQM) and its emphasis on process over product.

Recognize the influence of management pioneers on current practices.

Understand the contributions of early industrialists to worker welfare and management practices.

Acknowledge the role of self-esteem and mutual respect in promoting a healthy workplace.

---

Definitions:

Double-Digit Unemployment

A situation where the unemployment rate reaches or exceeds 10 percent, indicating a high level of joblessness.

Stagflation

A condition of slow economic growth and relatively high unemployment—a period of stagflation—accompanied by rising prices (inflation).

Misery Index

An economic indicator created by summing the unemployment rate and inflation rate, aiming to provide a snapshot of the average citizen's economic well-being.

Unemployment Rate

The percentage of the total labor force that is unemployed but actively seeking employment and willing to work.