AGB 302 Final Questions with 100- Correct Answers 2025 Update.

AGB 302 Final Questions with 100% Correct
Answers 2025 Update




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



political economy
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child labor is permitted and widely employed in country x. which of the following approaches to business
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ethics would justify the actions of the multinational company? - Correct Answer - cultural relativism
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the __________ approaches to ethics hold that the moral worth of actions or practices is determined by
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their consequences. - Correct Answer - utilitarian
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which of the following refers to the values and norms that the employees of an organization share? -
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Correct Answer - organization culture
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which of the following statements about values and norms of a culture is true? - Correct Answer - the
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values and norms of a society influence social structure
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according to Islam, those who hold property are regarded as _____________. - Correct Answer -
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trustees
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which of the following is a closed system of stratification in which social position is determined by the
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family into which a person is born, and change in that position is usually not possible during an
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individual's lifetime? - Correct Answer - caste system
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the __________ occurs when a resource is shared by all, but owned by no one, is overused by
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individuals, resulting in its degradation. - Correct Answer - tragedy of the commons
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companies can strengthen the __________ of employees by committing themselves to not retaliate
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against employees who complain about unethical actions. - Correct Answer - moral courage
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a Japanese executive's ritual of presenting a business card to a foreign business executive is an example of
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___________. - Correct Answer - folkways
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ethical systems are: - Correct Answer - a set of moral principles, or values, that are used to guide and
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shape behavior
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which of the following sociologists made a connection between protestant ethics and "the spirit of
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capitalism"? - Correct Answer - max weber
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which of the following is a consequence of the emphasis on individual performance in many western
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