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WGU Global-Economics-for-Managers Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Competency 3: Economic Decision-Making by Firms and Customers | - Consumer Behavior (Budget Constraint, Indifference Curves) - Firm Behavior Under Different Market Structures (Perfect Competition, Monopoly, Oligopoly) |
| Topic 2: Competency 2: Political and Economic Forces | - Market Economy vs. Command Economy - Property Rights and the Rule of Law |
| Topic 3: Key Topics Across All Competencies | - Supply and Demand Shifts - Global Business Strategies and Porter's Framework - Elastic vs. Inelastic Goods - International Trade Policies (Tariffs, Quotas) - Foreign Direct Investment (FDI) Impacts - Currency Appreciation and Depreciation |
| Topic 4: Competency 1: International Trade and Currency Exchange | - Currency Exchange Rate Determination - Introduction to International Trade Theories - Impact of Interest Rates on Financial Flows and Exchange Rates |
WGU Global Economics for Managers (C211, UZC2) Sample Questions:
1. Which company has a natural resource-seeking strategic goal?
A) A company searching for a location with a large consumer market
B) A company searching for a location where labor costs are low
C) A company searching for a location with advanced technology clusters
D) A company searching for a location where there is an abundance of oil
2. Which statement best summarizes the overall economic effect of tariffs?
A) They benefit consumers more than producers
B) They transfer surplus from consumers to producers and the government
C) They increase total economic surplus
D) They eliminate inefficiencies in global trade
3. Barriers to entry help to create monopolies. What is a common type of barrier?
A) A firm purchasing competitors
B) Economies of scale in the production process
C) Progressive tax structures
D) Elastic demand curves
4. What are properties of a typical indifference curve? (Choose TWO.)
A) Indifference curves slope upward.
B) Higher indifference curves are preferred to lower ones.
C) Indifference curves can intersect.
D) Indifference curves do not cross.
5. What are costs to home countries of foreign direct investment (FDI)? (Choose TWO.)
A) Reduced standard of living
B) Capital outflow
C) Cultural disintegration
D) Loss of sovereignty
E) Loss of intellectual property
F) Job loss
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: B | Question # 3 Answer: B | Question # 4 Answer: B,D | Question # 5 Answer: B,F |
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