Standard

Which explanation most thoroughly explains this graph?

• supply changes

• a crisis must have occurred for which the market has no solutions. So only government intervention can solve the problem

• there is a likelihood that prices will fall

• if the price is fixed at P1, then suppliers will not increase their quantity supplied and consumers will not get as many as they wish to have

What is the primary purpose of setting standards in society?

• To ensure uniformity and consistency

• To create competition

• To increase costs

• To limit innovation

Which organization is known for setting international standards?

• World Health Organization (WHO)

• International Organization for Standardization (ISO)

• United Nations (UN)

• World Trade Organization (WTO)

In social studies, what does the term 'cultural standard' refer to?

• A universal law

• A common practice or norm within a culture

• A government policy

• An economic principle

Which of the following is an example of a standard in education?

• Curriculum guidelines

• Student preferences

• Teacher opinions

• Parental expectations

How do standards impact international trade?

• They create barriers

• They facilitate smoother transactions

• They have no impact

• They increase tariffs

What is a standard of living?

• A measure of economic prosperity

• A type of government policy

• A cultural tradition

• A legal requirement

Which standard is often used to measure economic performance?

• Gross Domestic Product (GDP)

• Cultural norms

• Social behavior

• Political stability

What role do standards play in environmental protection?

• They hinder progress

• They provide guidelines for sustainability

• They are irrelevant

• They increase pollution

What is the significance of ethical standards in business?

• They increase profits

• They guide moral conduct

• They are optional

• They limit growth