MNB3702 Assessment 1

MNB3701 Assessment
01
Ques and Answer
Semester 02
2023

,The members of short-term orientation societies commonly prefer ________.


a.
high savings rate and ambitions

b.
low savings rate and quick results

c.
quick results and instant gratification

d.
high ambitions and instant gratification
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The correct answer is: quick results and instant gratification

Question 2
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Question text
Which of the following represents a category of institutions introduced by economic historian
Douglas North?


a.
Formal

b.
Informal

c.
Formal and informal

d.
Neither formal nor informal
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The correct answer is: Formal and informal

Question 3
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Question text
Which of the following is NOT a primary institution grounded in the legal system that needs to be in
place for competition to deliver the desired outcomes as identified by Walter Euken?


a.
The freedom to make contracts to exchange property

b.
The currency should be stable and not manipulated

c.
The economic liability of economic agents

d.
The right to private property
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The correct answer is: The currency should be stable and not manipulated

Question 4
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Question text
A corporate language refers to ________.


a.
foreign language used informally by tourists

b.
native language in the MNEs country of origin

c.
language people use for informal chats with the colleagues

d.
language used for all formal communications within an MNE
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The correct answer is: language used for all formal communications within an MNE

Question 5
Incorrect