G202 PRACTICE PAPER 2026 FULL
QUESTIONS AND ANSWERS GRADED A+
◉Zero Sum Game Definition and Examples. Answer: The value
gained by certain parties exactly equals the value lost by other
parties.
A's net value change= X > 0
B's net value change = -X
=> A's gains=B's losses
Property disputes
Future contracts
◉Positive Sum Game Definition and Examples. Answer: All parties
gain net value, or the value gained by certain parties is greater than
the value lost by other parties.
A's net value change= X
B's net value change= Y
X+Y > 0. Negotiation seeks to achieve X >= 0, Y>=0.
Joint venture
Product licensing
, ◉Negative Sum Game Definition and Examples. Answer: All parties
lose net value, or the value gained by certain parties is less than the
value lost by other parties.
A's net value change = X
B's net value change = Y
X+Y<0
Rent control
Speculative investment
◉Successful business chooses to engage in. Answer: positive sum
games with customers, employees, vendors, stockholders, and other
stakeholders
◉Zero sum and negative sum games can generate short-term gains,
but typically at the expense. Answer: of long-term success
◉Markets are. Answer: neither inherently good nor bad. They are
inherently amoral phenomena.
◉Excludability:. Answer: A product is excludable if the producer can
regulate who uses it.
◉Rivalry:. Answer: A product is rivalrous if use by one party
prevents simultaneous use by another.
QUESTIONS AND ANSWERS GRADED A+
◉Zero Sum Game Definition and Examples. Answer: The value
gained by certain parties exactly equals the value lost by other
parties.
A's net value change= X > 0
B's net value change = -X
=> A's gains=B's losses
Property disputes
Future contracts
◉Positive Sum Game Definition and Examples. Answer: All parties
gain net value, or the value gained by certain parties is greater than
the value lost by other parties.
A's net value change= X
B's net value change= Y
X+Y > 0. Negotiation seeks to achieve X >= 0, Y>=0.
Joint venture
Product licensing
, ◉Negative Sum Game Definition and Examples. Answer: All parties
lose net value, or the value gained by certain parties is less than the
value lost by other parties.
A's net value change = X
B's net value change = Y
X+Y<0
Rent control
Speculative investment
◉Successful business chooses to engage in. Answer: positive sum
games with customers, employees, vendors, stockholders, and other
stakeholders
◉Zero sum and negative sum games can generate short-term gains,
but typically at the expense. Answer: of long-term success
◉Markets are. Answer: neither inherently good nor bad. They are
inherently amoral phenomena.
◉Excludability:. Answer: A product is excludable if the producer can
regulate who uses it.
◉Rivalry:. Answer: A product is rivalrous if use by one party
prevents simultaneous use by another.
