Page 1 of 77
INTB 200 EXAM 1 | {LATEST 2026/ 2027 UPDATE}
COMPLETE ACTUAL AND AUTHENTIC EXAM |
BRAND NEW!
Which trade theory suggests that trade is a positive-sum game in
which all participating countries realize economic gains?
A) Heckscher-Ohlin theory
B) mercantilism
C) comparative advantage
D) Leontief's paradox
E) Samuelson critique
C) comparative advantage
,Page 2 of 77
Amartya Sen believed that __________ should also be a factor in the
human development index.
A) birth rates
B) political freedom
C) educational attainment
D) basic average income
E) geographical conditions
B) political freedom
__________ is broadly defined as the development of new products,
processes, organizations, management practices, and strategies.
A) Privatization
B) Dynamism
,Page 3 of 77
C) Demographics
D) Innovation
E) Benchmarking
D) Innovation
Which of these individuals can be considered an entrepreneur?
A) Jocelyn, an employee at a home goods store, is solely responsible
for all the purchases and sales at the store.
B) Samantha recycles old household articles to build artwork for her
personal use.
C) Zander makes his living by investing in small companies that have
the potential to grow.
D) Kellen started a company that processes cable wire into fabric used
in blankets.
, Page 4 of 77
E) Manuel invented a fingernail strengthening formula and sold it to a
company that sells several other nail products.
D) Kellen started a company that processes cable wire into fabric used
in blankets.
An unfavorable environment for innovations and entrepreneurship is
the result of:
A) a market economy.
B) economic freedom.
C) state monopoly in production.
D) privatization.
E) strong legal protection of property rights.
C) state monopoly in production
INTB 200 EXAM 1 | {LATEST 2026/ 2027 UPDATE}
COMPLETE ACTUAL AND AUTHENTIC EXAM |
BRAND NEW!
Which trade theory suggests that trade is a positive-sum game in
which all participating countries realize economic gains?
A) Heckscher-Ohlin theory
B) mercantilism
C) comparative advantage
D) Leontief's paradox
E) Samuelson critique
C) comparative advantage
,Page 2 of 77
Amartya Sen believed that __________ should also be a factor in the
human development index.
A) birth rates
B) political freedom
C) educational attainment
D) basic average income
E) geographical conditions
B) political freedom
__________ is broadly defined as the development of new products,
processes, organizations, management practices, and strategies.
A) Privatization
B) Dynamism
,Page 3 of 77
C) Demographics
D) Innovation
E) Benchmarking
D) Innovation
Which of these individuals can be considered an entrepreneur?
A) Jocelyn, an employee at a home goods store, is solely responsible
for all the purchases and sales at the store.
B) Samantha recycles old household articles to build artwork for her
personal use.
C) Zander makes his living by investing in small companies that have
the potential to grow.
D) Kellen started a company that processes cable wire into fabric used
in blankets.
, Page 4 of 77
E) Manuel invented a fingernail strengthening formula and sold it to a
company that sells several other nail products.
D) Kellen started a company that processes cable wire into fabric used
in blankets.
An unfavorable environment for innovations and entrepreneurship is
the result of:
A) a market economy.
B) economic freedom.
C) state monopoly in production.
D) privatization.
E) strong legal protection of property rights.
C) state monopoly in production
