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SEU | BA
FINAL EXAM :
YEAR :
Coordinator:
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SEU | BA
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SEU | BA
MIDTERM EXAM: MGT321
YEAR : 2nd term 23-24
Coordinator:
REENOO707
SEU | BA
MIDTERM EXAM: MGT321
YEAR : 2nd term 23-24
The system of government in a nation is called the……………
A. political system
B. economie system
C. political economy
D. legal system
Answer: A
………………………..looks at the relationship between gender and work roles.
A. Masculinity versus femininity
B. Power distance
C. Individualism versus collectivism
D. Uncertainty avoidance
Answer: A
According to……………… “the social responsibility of business is to increase profits,”
so long as the company stays within the rules of law.
A. Naïve immoralist
B. Righteous moralist
C. Cultural relativism
D. Friedman Doctrine
Answer: D
………………is a system of shared beliefs and rituals concerned with the realm of the
sacred.
A. Religion
B. Unspoken Language
C. Spoken Language
D. Ethical System
Answer: A
……………..focuses on production location changes as products become more
widely accepted.
A. Krugman’s new trade theory
B. Ricardo’s theory of comparative advantage
C. Vernon’s product life-cycle theory
D. Heckscher-Ohlin theory
Answer: C
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…………….is any firm that engages in international trade or investment.
A. International agreement
B. International law
C. International business
D. International trade
Answer: C
According to critics, service outsourcing
A. firms move production to nations that do not have regulations
B. effects labor and environmental regulations and increase manufacturing costs.
C. contribute to higher unempeoyment and lower living standards in their home
nations.
D. destroy manufacturing jobs in wealthy advanced economies
Answer: C
………………. is based on tradition, precedent, custom.
A. Civil law
B. Common law
C. Contract law
D. Theocratic law
Answer: B
………………..enables managers to walk away from a decision that is profitable but
unethical.
A. Moral Courage
B. Ethics Officers
C. Sustainability
D. Corporate Social Responsibility
Answer: A
………………..was designed to liberalize trade by eliminating tariffs, subsidies, import
quotas, etc.
A. International Monetary Fund
B. General Agreement on Tariff and Trade (GATT)
C. World Bank
D. World Trade Organization (WTO)
Answer: B
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……………….advocates government intervention to achieve a surplus in the balance
of trade.
A. Adam Smith
B. H-O theory
C. David Ricardo
D. Mercantilism
Answer: D
Which of the following is NOT of the four broad attributes of a nation shaping the
environment in which local firms compete:
A. Related and supporting industries
B. First-mover advantages
C. Demand conditions
D. Factor endowments
Answer: B
……………..are the accepted principles of right or wrong that govern the conduct of
businesspeople.
A. Business ethics
B. Ethical issues
C. Ethical strategy
D. Personal Ethies
Answer: A
……………provide a lower tariff rate to imports within the quota than those over the
quota.
A. Tariff rate quotas
B. Voluntary export restraints
C. Quota rents
D. Import quotas
Answer: A
………………is found throughout Europe, the Americas, and other countries settled
by Europeans.
A. Buddhism
B. Islam.
C. Christianity
D. Hinduism.
Answer: C
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Essay:
Differentiate between Market economy and Command economy.
Answer:
Market Economy
• All productive activities are privately owned.
• Production is determined by supply and demand.
• To work, supply must not be restricted.
• Role of government is to encourage vigorous free and fair competition.
Command Economy
• Government plans the goods and services, quantity and price, then allocates
them for “the good of society.”
• All businesses are state owned.
• Historically found in communist countries.
• No incentive for individuals to look for better ways to serve needs.
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Define Global Institutions. Give four examples of such institutions in full form.
Answer:
The World Trade Organization
• Polices the world trading system.
• Ensures nation-states adhere to the rules.
• Facilitates multinational agreements among members.
• 164 nations that account for 98 percent of world trade were members as of
2019.
The International Monetary Fund
• Established to maintain order in the international monetary system.
• Often seen as the lender of last resort.
• In return for loans, requires nation-states to adopt specific economic policies
aimed at returning their economies to stability and growth.
The World Bank
• Promotes economic development.
• Focused on making low-interest loans to cash-strapped governments in poor
nations that wish to undertake significant infrastructure investments.
• Considered less controversial than the IMF.
Group of Twenty (G20)
• Finance ministers and central bank governors of the 19 largest economies in the
world, plus representatives from the European Union and the European Central
Bank.
• Represents 90 percent of global GDP and 80 percent of international global
trade.
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The United Nations
• Promotes peace through international cooperation and collective security.
• 193 member countries.
• UN Charter – four basic purposes:
• Maintain international peace and security.
• Develop friendly relations among nations.
• Cooperate in solving international problems and in promoting respect for human
rights.
• Be a center for harmonizing the actions of nations.
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