Free WGU Global-Economics-for-Managers Exam Questions

Become WGU Certified with updated Global-Economics-for-Managers exam questions and correct answers

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Total 135 Questions | Updated On: Aug 03, 2026

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Question 1

In a monopoly, which statements are likely true? (Choose TWO.)

A : One seller offers a unique good with no close substitutes

B : There are barriers to entry into the market

C : Firms are price takers

D : Marginal revenue equals price

E : Entry is free in the long run

Answer: A,B

Question 2

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

A : Scale-seeking

B : Profit-seeking

C : Competition-seeking

D : Market-seeking

Answer: D

Question 3

When supply decreases and demand stays the same, what happens to the equilibrium point of price and quantity? Choose two answers.

A : Price increases.

B : Price decreases.

C : Quantity remains the same.

D : Quantity increases.

E : Quantity decreases.

F : Price remains the same.

Answer: A,E

Question 4

Which statement characterizes an institution-based view of global business?

A : Firm behaviors are the outcome of interactions between institutions and firms.

B : Government regulations are the primary driver of institutional change.

C : Institutions, not firms, are the sole factor in explaining individual behavior.

D : Financial motivations are excluded from consideration in explaining the interactions between institutions and firms.

Answer: A

Question 5

One view of globalization claims that human civilization has always had some type of globalization.Which view is it?

A : The modern institutional view

B : The short-run economic view

C : The long-run historical view

D : The technological convergence view

Answer: C

Page: 1 / 27

Total 135 Questions | Updated On: Aug 03, 2026

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