Reference no: EM131166324
1. Which stakeholder group is primary in both the Market Capitalism and Stakeholder model?
a. Customers.
b. Shareholders.
c. Workers.
d. Federal Government.
2. Which type of economy allows private individuals and corporations to own the means of production and compete in a free market?
a. Capitalism.
b. Socialism.
c. Communism.
d. All of the above.
3. The theory that government should interfere with the economy only in a limited way is called:
a. Communism.
b. Market Capitalism.
c. Democracy.
d. Socialism.
4. Which of the following is not a characteristic of competitive markets?
a. A large number of firms in the industry.
b. Little or no entry barriers.
c. Access to information for all market participants.
d. Sole ownership of key market resources.
5. The distribution of wealth in a market based economy:
a. Depends on the skill and abilities of individual market participants.
b. Is related to the level of productivity of the workforce.
c. Can be influenced by government policies that subsidize education.
d. All of the above.
6. Another name for the shareholders of a corporation is its:
a. Employees.
b. Government regulators.
c. Owners.
d. Customers.
7. The actions taken by the managers of a business that are intended to adapt the business to changes in the marketplace are called:
a. Separation of powers.
b. Strategic decision making.
c. The moral imperative.
d. Diffusion of power.
8. Economic trends over the last one hundred years include all but which of the following?
a. Fewer contries relying on market based economies.
b. Increased global trade.
c. Higher global labor productivity.
d. Increased living standards in most countries.
9. Which form of government works best with a market based system of exchange?
a. Monarchy.
b. Communism.
c. Socialism.
d. Democracy.
10. All of the following are part of the external environment of a company EXCEPT:
a. the Decision-Making Environment.
b. the Government Environment.
c. the Legal Environment.
d. the Cultural Environment.
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