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

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

1. The marginal revenue from producing a smartphone is $200, and the marginal cost is $150. What is the best action for the firm?

A) Decrease production
B) Exit the market altogether
C) Increase production
D) Pause production

2. Which term best describes an economic condition in which a nation exports more than it imports?

A) Mercantilism
B) Trade surplus
C) Trade deficit
D) Resource mobility

3. When is it best for a firm to increase production?

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

4. What is a key feature of an oligopoly?

A) Firms in an oligopoly are independent of one another, much like competitive firms.
B) The actions of any one seller in the market have little to no impact on the profits of all the other sellers.
C) There is tension between cooperation and self-interest.
D) There is little, if any, motivation for cooperation between firms.

5. Which scenario demonstrates a monopoly created by a resource?

A) An author copyrights a new book.
B) A software company copyrights the code for new software.
C) A bridge is so infrequently used that it has a large fixed cost and negligible marginal cost.
D) A new rare jewel is found, and only one mine in the world has it.

Solutions: