AGB 302 EXAMINATION 2026 STUDY
GUIDE TEST PAPER QUESTIONS AND
SOLUTIONS
⩥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
GUIDE TEST PAPER QUESTIONS AND
SOLUTIONS
⩥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
