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WGU Global-Economics-for-Managers Exam Syllabus Topics:

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

Question 1

When is it best for a firm to increase production?

A. When total revenue is maximized
B. When marginal cost exceeds marginal revenue
C. When marginal revenue is greater than marginal cost
D. When average cost is minimized

Question 2

What is one of the four strategic goals of firms looking for potential locations?

A. Market-seeking
B. Profit-seeking
C. Scale-seeking
D. Competition-seeking

Question 3

What are examples of variable costs? Choose two answers.

A. A $1,000 license fee charged by the state government to operate a shop
B. The CEO's salary for a major manufacturing firm
C. The monthly internet cost in a business that produces women's apparel
D. The rent paid by a magazine publisher for its creative team
E. A 5% tax charged by the government on variable inputs
F. The cost of the parts used in individual devices made by a computer manufacturer

Question 4

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

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

Question 5

What are weaknesses of the theory of mercantilism? (Choose TWO.)

A. The theory emphasizes comparative advantage.
B. The theory promotes free trade.
C. The theory encourages specialization and productivity growth.
D. The theory leads to inefficient allocation of resources.
E. Application of the theory reduces national wealth in the long run.

Solutions: