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

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

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

1. In an oligopoly with an initial agreement to maximize total profit, which statements might a firm motivated by self-interest likely make? (Choose THREE.)

A) "I should always cooperate, regardless of outcomes."
B) "Regardless of what my fellow firms do, I am better off raising production beyond the agreed-to level."
C) "If my fellow firms live up to the agreement, I am better off raising production."
D) "If my fellow firms fail to live up to the agreement and raise production, I am better off raising production myself."
E) "I am better off reducing output below the agreed level."

2. What is a characteristic of a market economy?

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

3. What is a tariff levied on imports that are selling below cost in order to unfairly drive domestic firms out of business?

A) Antidumping duty
B) Opportunity cost
C) Deadweight cost
D) Factor endowment

4. Which protection of intellectual property is used for the design of a logo?

A) Trademark
B) Copyright
C) Trade secret
D) Patent

5. What is an example of a company that is market-seeking?

A) A company searching for a location where the cost of unskilled labor is low
B) A company searching for a location where rocks and minerals can be mined
C) A company searching for a location where a specific type of plastic is low-cost and readily available
D) A company searching for a location where there is a high interest in camping supplies

Solutions: