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

1. Which entrant is able to erect significant barriers for other entrants?

A) Late mover
B) Dodger
C) First mover
D) Contender

2. Which statement is a description of theocratic law?

A) It is a legal system that is the oldest, most influential, and most widely distributed in the world.
B) It is a legal system that uses comprehensive statutes and codes as a primary means to form legal judgments.
C) It is a legal system that is shaped by precedents and traditions from previous judicial decisions.
D) It is a legal system based on religious teachings and dogma.

3. When demand decreases and supply stays the same, what happens to the equilibrium point of price and quantity? (Choose TWO.)

A) Price increases
B) Quantity increases
C) Quantity decreases
D) Price decreases

4. A country has experienced a decrease in inflation. What is the effect on the country's currency exchange rate?

A) It depreciates
B) It has no effect
C) It increases
D) It becomes unstable

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

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

Solutions: