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AGB 302 Final Exam with correct Answers
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AGB 302 Final Exam with correct Answers
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AGB 302 Final Exam with correctAnswers
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
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