MGT610 Final Term Quiz 2 July 2023 by Miss Mehwish

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Q1. A conception of nature wherein humans and nature together form a moral community is known as:

• Environmentalism
• Holism
• Racism

Correct option: Holism

2. When would outside companies be allowed to make partnerships with Chinese companies? Options:

• Mid-1980s
• Mid-1990s
• Mid-1970s

Correct option: Mid-1980s

Q3. Which of the following is NOT a feature of perfect competition?

• All buyers and sellers are utility maximizers.
• There are numerous buyers and sellers, none of whom has a substantial share of the market.
• There are few buyers and sellers.
• All buyers and sellers can freely and immediately enter or leave the market.

Correct option: There are few buyers and sellers.

4. Which of the following refers to the consumption of finite or scarce resources? Options:

• Ozone depletion
• Economic depletion
• Resource depletion

Correct option: Resource depletion

Q5. Which of the following determines the price mechanism?

• Supply
• Demand
• Both supply and demand (a & b)
• Cost

Correct option: Both supply and demand (a & b)

Q6. Internalizing external costs is consistent with all except:

• Compensatory justice
• Retributive justice
• Social justice

Correct option: None of the above

Q7. What amount of airborne toxic substances (pounds) is released annually into the atmosphere of the USA?

• 1.4 Billion Pound
• 2.4 Billion pounds
• 3.4 Billion Pound

Correct option: 2.4 Billion pounds

8. Which of the following is NOT a moral outcome of perfectly competitive markets? Options:

• Utility
• Faith
• Rights
• Justice

Correct option: Faith