Sir Isaac Newton Put England on the Gold Standard When

question 62

Multiple Choice

Sir Isaac Newton put England on the gold standard when he:

• A) declared, as master of the English mint, that he would sell gold for 1 pound, 1 shilling, 1 pence, under the law of one price.
• B) set a market price for gold, the British pound and the U.S. dollar.
• C) established a fixed equivalency between gold and the British currency.
• D) brought the matter to Queen Anne, who declared Britain would follow the gold standard.

---

Definitions:

Physical Distribution

The activities involved in moving a product from the manufacturer to the consumer, including warehousing, transportation, and inventory management.

Total Logistics Cycle

The comprehensive process that includes planning, implementing, and controlling the efficient flow and storage of goods, services, and related information from point of origin to point of consumption.

Replenishment Time

The duration required to restock or refill inventory to its desired level after it has been depleted.

Efficient Consumer Response

A strategy aiming to optimize the supply chain's efficiency to meet consumers' needs more effectively and at lower cost.