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[Hardware] Formal Global-Economics-for-Managers Test & Global-Economics-for-Managers La

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【Hardware】 Formal Global-Economics-for-Managers Test & Global-Economics-for-Managers La

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WGU Global Economics for Managers (C211, UZC2) Sample Questions (Q40-Q45):NEW QUESTION # 40
Which pillar of formal institutions represents the coercive power of governments?
  • A. Regulatory
  • B. Cultural
  • C. Cognitive
  • D. Normative
Answer: A
Explanation:
InGlobal Economics for Managers, theregulatory pillarof formal institutions represents thecoercive power of governments, making option C correct. Regulatory institutions consist of laws, rules, regulations, and enforcement mechanisms that shape economic behavior through rewards and punishments.
The regulatory pillar relies on the authority of the state to enforce compliance. Governments impose sanctions such as fines, imprisonment, or license revocation to ensure adherence to laws. For firms, this pillar defines what is legally permissible in areas such as labor practices, taxation, environmental standards, and competition policy.
The other institutional pillars-normative and cognitive-do not rely on coercion. Normative institutions are based on social norms and values, while cognitive institutions reflect shared beliefs and taken-for-granted assumptions.
Understanding the regulatory pillar is essential for managers because violations can result in severe legal and financial consequences. Thus, option C correctly identifies the pillar associated with government coercive power.

NEW QUESTION # 41
What are common types of barriers to entry that can cause a monopoly? (Choose TWO.)
  • A. A single firm owning a key resource
  • B. Elastic demand
  • C. Economies of scale in the production process
  • D. Perfect information
  • E. Free entry and exit
Answer: A,C
Explanation:
InGlobal Economics for Managers, monopolies arise whenbarriers to entryprevent competitors from entering a market. Two common barriers arecontrol of a key resourceandeconomies of scale, making options A and B correct.
When a single firm owns a unique or scarce resource, competitors cannot produce the good without access to that resource. Economies of scale create monopolies when one firm can produce at a lower average cost than multiple firms due to high fixed costs.
Options C, D, and E promote competition rather than monopoly.
Thus, options A and B correctly identify monopoly-creating barriers to entry.

NEW QUESTION # 42
Which system has elements of a market economy and a command economy?
  • A. Compromise economy
  • B. Mixed economy
  • C. Fair economy
  • D. Market-command economy
Answer: B
Explanation:
InGlobal Economics for Managers, amixed economyis defined as an economic system that combines elements of both amarket economyand acommand economy, making option C the correct answer. In a mixed economy, resource allocation is determined partly by market forces-such as supply, demand, and prices-and partly by government intervention through regulation, taxation, public spending, and state ownership in selected sectors.
Most modern economies are mixed economies. While private firms and consumers make many economic decisions independently, governments play an active role in correcting market failures, providing public goods, redistributing income, and stabilizing the economy. Examples include regulations on labor and environmental standards, public education and healthcare systems, and social welfare programs.
Option A, fair economy, and option D, compromise economy, are not standard economic classifications.
Option B, market-command economy, is not a formally recognized system in managerial economics.
Global Economics for Managersemphasizes that understanding mixed economies is critical for managers because government policies directly affect costs, pricing, competition, and strategic decisions. Thus, option C correctly identifies the system that blends market and command features.

NEW QUESTION # 43
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
Explanation:
InGlobal Economics for Managers, thelong-run historical viewof globalization argues that globalization is not a recent phenomenon, but rather a process that has existed throughout human history. This view emphasizes that trade, migration, cultural exchange, and cross-border interactions have occurred for thousands of years, long before modern multinational enterprises or digital technologies emerged.
Under this perspective, early examples of globalization include ancient trade routes such as the Silk Road, maritime trade across the Mediterranean, and colonial-era exchanges of goods, capital, and labor. Although the scale, speed, and complexityof globalization have increased dramatically in recent decades, the underlying idea of cross-border integration is seen as historically continuous.
This view contrasts with more recent interpretations that define globalization as a post-World War II or late
20th-century phenomenon driven by multinational corporations, trade liberalization, and digital communication. The long-run historical view does not deny the importance of these modern forces but argues that they represent anintensification, not the origin, of globalization.
For managers, this perspective is important because it frames globalization as a persistent structural force rather than a temporary trend. Firms operating globally must recognize that international economic integration has deep roots and is likely to continue evolving rather than reversing permanently.
Therefore, option C correctly identifies the long-run historical view as the perspective that sees globalization as an enduring feature of human civilization.

NEW QUESTION # 44
The benefit attributed to firms that enter a market before other firms in the same market segment is best described by which term?
  • A. Economies of scope
  • B. First-mover advantage
  • C. Competitive neutrality
  • D. Late-mover advantage
Answer: B
Explanation:
InGlobal Economics for Managers, the benefit enjoyed by firms that enter a marketbefore competitorsis known asfirst-mover advantage, making option C correct. First movers are firms that are pioneers in introducing new products, technologies, or business models into a market.
First-mover advantages can arise from several sources. Early entrants may be able to buildbrand recognition, securecontrol over scarce resources, establishcustomer loyalty, or setindustry standardsthat later entrants must follow. In some cases, first movers can erect significant barriers to entry, making it difficult for competitors to gain market share.
However,Global Economics for Managersalso notes that first-mover advantages are not guaranteed. Early entrants face higher uncertainty, development costs, and the risk of technological obsolescence. Nevertheless, when successful, first movers can sustain long-term competitive advantages.
Option A refers to late-mover advantage, which arises from reduced uncertainty. Option B is not a standard strategic concept. Option D relates to cost efficiencies across products, not timing of entry.
Thus, option C correctly identifies first-mover advantage.

NEW QUESTION # 45
......
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