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WGU Global Economics for Managers (C211, UZC2) Sample Questions:

1. When is it best for a firm to restart production?

A) When marginal cost is greater than marginal revenue
B) When total revenue is less than total cost
C) When total variable costs are less than total revenue after a short-term stop
D) When total cost is greater than total revenue

2. What are properties of a typical indifference curve? (Choose TWO.)

A) Indifference curves slope upward.
B) Indifference curves can intersect.
C) Indifference curves do not cross.
D) Higher indifference curves are preferred to lower ones.

3. Which term best describes a market structure of limited competition in which the market is shared by a small number of sellers?

A) Oligopoly
B) Monopoly
C) Monopolistic competition
D) Perfect competition

4. What is a characteristic of common law as compared to civil law?

A) Common law is based on religious teachings.
B) Common law relies primarily on comprehensive statutes and codes.
C) Common law is more reliant on precedents from previous judicial decisions.
D) Common law minimizes the role of judges.

5. What is one example of something a copyright is used to protect?

A) The name of a brand
B) The design of a logo
C) The shape of a new invention
D) The content of a book

Solutions: