Determine Which Quadrant (I, II, III, or IV) the Point $\left(-\frac{1}{2}, \frac{1}{3}\right)$

Determine which quadrant (I, II, III, or IV) the point is located in.
- $\left(-\frac{1}{2}, \frac{1}{3}\right)$

A) I
B) II
C) III
D) IV