AGB 302 Final Exam Questions with
Correct Answers 2023
which of the following is a step in the shift towards a market based economic system? -
Answer-creation of a legal system to safeguard property rights
design and names by which merchants or manufacturers designate and differentiate
their products are known as __________ - Answer-trademarks
________, a nobel prize-winning economist, has argued that development is not just an
economic process, but it is a political one as well. - Answer-amartya sen
in several western democracies, the poor performance of state-owned enterprises,
because of protection from competition and guaranteed government financial support,
led to ________. - Answer-privatization
one of the reasons for the spread of democracy is the emergence of _____________
who have pushed for democratic reforms. - Answer-increasingly prosperous middle and
working classes
which of the following areas of international trade is regulated by the Foreign Corrupt
Practice Act? - Answer-preventing bribery and unethical acts in the conduct of
international business
the tenet of ___________ is that the welfare of society is best served by letting people
pursue their own economic self-interest. - Answer-individualism
the state can expropriate the profits from innovation through legal means, such as
____________. - Answer-excessive taxation
a free market economy in which property rights are protected leads to subsequent
economic growth, which often leads to the establishment of: - Answer-a democratic
regime
under the ___________, cases are judged with reference to three characteristics:
tradition, precedent, and custom. - Answer-common law system
anecdotal comparisons suggest that the assertion that nations that invest more in
_________ will have higher growth rates is true. - Answer-education
which of the following helps in adjusting GNI such that it accounts for the differences in
the cost of living? - Answer-purchasing power party (PPP) adjustment
, in a ___________ economy, certain sectors of the economy are left to private
ownership and free market mechanisms while other sectors have significant state
ownership and government planning. - Answer-mixed
a market economy encourages innovation because: - Answer-economic freedom leads
to greater incentives for innovation
several of the fastest-growing asian economies adopted more ___________
governments during the past three decades, including South Korea and Taiwan. -
Answer-democratic
which of the following statements about the legal systems of countries is true? -
Answer-they can affect the attractiveness of a country as an investment site or market.
modern socialism has been popularized largely through the work of ____________. -
Answer-karl marx
which of the following is a measure that is developed by the United Nations to measure
the quality of life in different nations? - Answer-human development index
in a pure market economy: - Answer-production is determined by the interaction of
supply and demand.
interdependent political, economic, and legal systems of a country make up its: -
Answer-political economy
child labor is permitted and widely employed in country x. which of the following
approaches to business ethics would justify the actions of the multinational company? -
Answer-cultural relativism
the __________ approaches to ethics hold that the moral worth of actions or practices
is determined by their consequences. - Answer-utilitarian
which of the following refers to the values and norms that the employees of an
organization share? - Answer-organization culture
which of the following statements about values and norms of a culture is true? - Answer-
the values and norms of a society influence social structure
according to Islam, those who hold property are regarded as _____________. -
Answer-trustees
which of the following is a closed system of stratification in which social position is
determined by the family into which a person is born, and change in that position is
usually not possible during an individual's lifetime? - Answer-caste system
Correct Answers 2023
which of the following is a step in the shift towards a market based economic system? -
Answer-creation of a legal system to safeguard property rights
design and names by which merchants or manufacturers designate and differentiate
their products are known as __________ - Answer-trademarks
________, a nobel prize-winning economist, has argued that development is not just an
economic process, but it is a political one as well. - Answer-amartya sen
in several western democracies, the poor performance of state-owned enterprises,
because of protection from competition and guaranteed government financial support,
led to ________. - Answer-privatization
one of the reasons for the spread of democracy is the emergence of _____________
who have pushed for democratic reforms. - Answer-increasingly prosperous middle and
working classes
which of the following areas of international trade is regulated by the Foreign Corrupt
Practice Act? - Answer-preventing bribery and unethical acts in the conduct of
international business
the tenet of ___________ is that the welfare of society is best served by letting people
pursue their own economic self-interest. - Answer-individualism
the state can expropriate the profits from innovation through legal means, such as
____________. - Answer-excessive taxation
a free market economy in which property rights are protected leads to subsequent
economic growth, which often leads to the establishment of: - Answer-a democratic
regime
under the ___________, cases are judged with reference to three characteristics:
tradition, precedent, and custom. - Answer-common law system
anecdotal comparisons suggest that the assertion that nations that invest more in
_________ will have higher growth rates is true. - Answer-education
which of the following helps in adjusting GNI such that it accounts for the differences in
the cost of living? - Answer-purchasing power party (PPP) adjustment
, in a ___________ economy, certain sectors of the economy are left to private
ownership and free market mechanisms while other sectors have significant state
ownership and government planning. - Answer-mixed
a market economy encourages innovation because: - Answer-economic freedom leads
to greater incentives for innovation
several of the fastest-growing asian economies adopted more ___________
governments during the past three decades, including South Korea and Taiwan. -
Answer-democratic
which of the following statements about the legal systems of countries is true? -
Answer-they can affect the attractiveness of a country as an investment site or market.
modern socialism has been popularized largely through the work of ____________. -
Answer-karl marx
which of the following is a measure that is developed by the United Nations to measure
the quality of life in different nations? - Answer-human development index
in a pure market economy: - Answer-production is determined by the interaction of
supply and demand.
interdependent political, economic, and legal systems of a country make up its: -
Answer-political economy
child labor is permitted and widely employed in country x. which of the following
approaches to business ethics would justify the actions of the multinational company? -
Answer-cultural relativism
the __________ approaches to ethics hold that the moral worth of actions or practices
is determined by their consequences. - Answer-utilitarian
which of the following refers to the values and norms that the employees of an
organization share? - Answer-organization culture
which of the following statements about values and norms of a culture is true? - Answer-
the values and norms of a society influence social structure
according to Islam, those who hold property are regarded as _____________. -
Answer-trustees
which of the following is a closed system of stratification in which social position is
determined by the family into which a person is born, and change in that position is
usually not possible during an individual's lifetime? - Answer-caste system
