AGB 302 Final Exam Questions with Verified Answers.
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AGB 302
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AGB 302
AGB 302 Final Exam Questions with Verified Answers.AGB 302 Final Exam Questions with Verified Answers.AGB 302 Final Exam Questions with Verified Answers.
AGB 302 Final Exam Questions with Verified
Answers.
Which of the following is a step in the shift towards a market based economic
system? - ANS 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 __________ - ANS trademarks
________, a Nobel prize-winning economist, has argued that development is not just
an economic process, but it is a political one as well. - ANS hamartia seen
In several western democracies, the poor performance of state-owned enterprises,
because of protection from competition and guaranteed government financial
support, led to ________. - ANS privatization
One of the reasons for the spread of democracy is the emergence of
_____________ who have pushed for democratic reforms. - ANS increasingly
prosperous middle and working classes
Which of the following areas of international trade is regulated by the Foreign
Corrupt Practice Act? - ANS 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. - ANS individualism
The state can expropriate the profits from innovation through legal means, such as
____________. - ANS excessive taxation
a free market economy in which property rights are protected leads to subsequent
economic growth, which often leads to the establishment of: - ANS a democratic
regime
Under the ___________, cases are judged with reference to three characteristics:
tradition, precedent, and custom. - ANS common law system
Anecdotal comparisons suggest that the assertion that nations that invest more in
_________ will have higher growth rates is true. - ANS education
Which of the following helps in adjusting GNI such that it accounts for the differences
in the cost of living? - ANS 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. - ANS mixed
, A market economy encourages innovation because: - ANS 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. -
ANS democratic
Which of the following statements about the legal systems of countries is true? -
ANS they can affect the attractiveness of a country as an investment site or market.
Modern socialism has been popularized largely through the work of ____________. -
ANS 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? - ANS human development index
In a pure market economy: - ANS production is determined by the interaction of
supply and demand.
Interdependent political, economic, and legal systems of a country make up its: -
ANS 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? - ANS cultural relativism
The __________ approaches to ethics hold that the moral worth of actions or
practices is determined by their consequences. - ANS utilitarian
Which of the following refers to the values and norms that the employees of an
organization share? - ANS organization culture
Which of the following statements about values and norms of a culture is true? - ANS
the values and norms of a society influence social structure
According to Islam, those who hold property are regarded as _____________. - ANS
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? - ANS caste system
The __________ occurs when a resource is shared by all, but owned by no one, is
overused by individuals, resulting in its degradation. - ANS tragedy of the commons
Companies can strengthen the __________ of employees by committing themselves
to not retaliate against employees who complain about unethical actions. - ANS
moral courage
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