AGB 302 Final Exam | Questions and Correct Solutions 2025

which of the following is a step in the shift towards a market based economic system? - Answer -creation of a legal system to safeguard property rights design and names by which merchants or manufacturers designate and differentiate their products are known as __________ - Answer -trademarks ________, a nobel prize-winning economist, has argued that development is not just an economic process, but it is a political one as well. - Answer -amartya sen in several western democracies, the poor performance of state-owned enterprises, because of protection from competition and guaranteed government financial support, led to ________. - Answer - privatization one of the reasons for the spread of democracy is the emergence of _____________ who have pushed for democratic reforms. - Answer -increasingly prosperous middle and working classes which of the following areas of international trade is regulated by the Foreign Corrupt Practice Act? - Answer -preventing bribery and unethical acts in the conduct of international business the tenet of ___________ is that the welfare of society is best served by letting people pursue their own economic self-interest. - Answer -individualism the state can expropriate the profits from innovation through legal means, such as ____________. - Answer -excessive taxation a free market economy in which property rights are protected leads to subsequent economic growth, which often leads to the establishment of: - Answer -a democratic regime under the ___________, cases are judged with reference to three characteristics: tradition, precedent, and custom. - Answer -common law system anecdotal comparisons suggest that the assertion that nations that invest more in _________ will have higher growth rates is true. - Answer -education which of the following helps in adjusting GNI such that it accounts for the differences in the cost of living? - Answer -purchasing power party (PPP) adjustment in a ___________ economy, certain sectors of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership and government planning. - Answer - mixeda market economy encourages innovation because: - Answer -economic freedom leads to greater incentives for innovation several of the fastest-growing asian economies adopted more ___________ governments during the past three decades, including South Korea and Taiwan. - Answer -democratic which of the following statements about the legal systems of countries is true? - Answer -they can affect the attractiveness of a country as an investment site or market. modern socialism has been popularized largely through the work of ____________. - Answer -karl marx which of the following is a measure that is developed by the United Nations to measure the quality of life in different nations? - Answer -human development index in a pure market economy: - Answer -production is determined by the interaction of supply and demand. interdependent political, economic, and legal systems of a country make up its: - Answer -political economy child labor is permitted and widely employed in country x. which of the following approaches to business ethics would justify the actions of the multinational company? - Answer -cultural relativism the __________ approaches to ethics hold that the moral worth of actions or practices is determined by their consequences. - Answer -utilitarian which of the following refers to the values and norms that the employees of an organization share? - Answer -organization culture which of the following statements about values and norms of a culture is true? - Answer -the values and norms of a society influence social structure according to Islam, those who hold property are regarded as ________