Which of the Following Is True of the Mercantilism Policy

question 120

Multiple Choice

Which of the following is true of the mercantilism policy?

• A) It accepts gold as a medium of exchange.
• B) It encourages the free movement of labor and capital resources between nations.
• C) It emphasizes government control over the production of important goods and services.
• D) It emphasizes the importance of trade restrictions in achieving economic growth.
• E) It believes that a nation's economic vitality depends on its employment level.

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Definitions:

Just-in-Time Inventory

Just-in-Time Inventory is an inventory management strategy that aims to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.

Total Quality Management

Total Quality Management (TQM) is an organization-wide approach focused on continuous improvement and meeting customer satisfaction through systematic problem-solving and team-based collaborative efforts.

Operations

Activities involved in the day-to-day functions of a business that are necessary for it to run efficiently and effectively.

EOQ

Economic Order Quantity, the ideal order quantity a company should purchase to minimize its inventory costs, including holding and ordering costs.