Frederick Taylor Was the First to Understand the Importance of a Business's

question 174

Multiple Choice

Frederick Taylor was the first to understand the importance of a business's activities.He examined workers' jobs as a set of tasks,each of which had a standard completion time in

• A)The early 1800s.
• B)The late 1800s.
• C)The early 1900s.
• D)The late 1900s.

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Definitions:

Economic Progress

The overall growth and improvement in an economy’s productivity, standards of living, and welfare over time.

Ad Valorem Tariffs

Tariffs based on a percentage of the value of the imported goods, used as a trade policy tool.

Quotas

Limits set by governments on the amount of a particular product that can be imported or exported during a specified time period, used to regulate trade.

World Trade Organization

An international organization that regulates international trade.