WGU Global Economics for Managers (C211, UZC2) : Global-Economics-for-Managers

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WGU Global-Economics-for-Managers Exam Syllabus Topics:

WGU Global Economics for Managers (C211, UZC2) Sample Questions:

Question #1

An institution-based view of global business focuses on the specific relationship between which two entities?

A. Customers and institutions
B. Customers and firms
C. Firms and governments
D. Firms and institutions

Question #2

What are represented by informal institutions?

A. Regulations
B. Ethics
C. Rules
D. Written laws

Question #3

What is a characteristic of a market economy?

A. Resources are allocated through quotas.
B. Factors of production are privately owned.
C. Central planning determines production decisions.
D. Prices are fixed by the government.

Question #4

Which phrase best describes property rights?

A. The legal rights awarded by government authorities to inventors of new products or processes.
B. The legal rights regarding the use of an economic resource and for deriving income and benefits from it.
C. The exclusive legal rights of firms to use specific names, brands, and designs to differentiate their products from others.
D. The exclusive legal rights of authors and publishers to publish and disseminate their works.

Question #5

What is the profit maximization condition for a monopoly?

A. When marginal cost is minimized
B. When price equals marginal cost
C. When marginal revenue equals marginal cost
D. When total revenue is maximized

Solutions: