객관식
Why is reducing poverty considered important for promoting environmental sustainability?
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0. Basic Principles of Economics
Introduction to Economics
객관식
As trade expanded during the early development of economics, which of the following new business practices emerged to facilitate commerce?
A
The elimination of currency in favor of barter
B
The abolition of private property
C
The restriction of trade to local markets only
D
The use of double-entry bookkeeping
검증된 단계별 안내1
Understand the historical context: As trade expanded during the early development of economics, merchants and businesses needed more efficient ways to keep track of their transactions and financial positions.
Recognize the limitations of previous methods: Simple record-keeping or single-entry bookkeeping was insufficient for managing complex trade activities involving multiple transactions, debts, and credits.
Identify the innovation: The use of double-entry bookkeeping emerged as a new business practice. This system records each transaction twice, once as a debit and once as a credit, ensuring accuracy and balance in financial records.
Analyze why other options are incorrect: Barter was not favored over currency as trade expanded; private property was not abolished; and trade was not restricted to local markets but rather expanded geographically.
Conclude that double-entry bookkeeping facilitated commerce by improving financial transparency and accountability, which was essential for the growth of trade and business.
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