osn academy · which of the following is the best definition of managerial economics? ......

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[2]

Test Series - 1 1. Which of the following is the best definition of managerial economics? Managerial economics is

a. a distinct field of economic theory.

b. a field that applies economic theory and the tools of decision science.

c. a field that combines economic theory and mathematics.

d. none of the above.

2. The value of an economic theory in practice is determined by

a. how accurate the assumptions are.

b. how well the theory can be represented by a graph.

c. how well the theory can predict or explain.

d. how parsimonious the model is.

3. Management decision problems are comprised of three elements. Which of the following is not one of

them?

a. Profitability b. Alternatives c. Constraints d. Objectives

4. Which of the following areas of economic theory is the single most important element of managerial

economics?

a. Mathematical economics b. Econometrics

c. Macroeconomics d. Microeconomics

5. Which of the following is defined as the study of the aggregate economy studied as a whole?



6. Which of the following is the discipline that studies the use of statistical tools to estimate economic

models?



7. Firms do not continue to grow without limit because of

a. managerial limitations. b. government regulation.

c. income taxes. d. antitrust laws.

8. The modern theory of the firm holds that firms behave in a way that is designed to maximize

a. profit. b. the value of the firm.

c. monopoly power. d. total revenue.

9. Which of the following functional areas of business has primary responsibility for a firm's total

revenue?

a. Accounting b. Finance c. Marketing d. Personnel

10. Which of the following is an example of a resource constraint?

a. Pollution control laws b. Inadequate demand

c. Excessive production costs d. Inadequate financial capital

11. The last stage in the five step decision process described in the text is to

a. determine the objective. b. select the best possible solution.

c. implement the decision. d. explain the decision to managers.

12. The first stage in the five step decision process described in the text is to

a. define the problem. b. select the best possible solution.

c. determine the objective. d. identify possible solutions.

13. The economic term for the costs associated with negotiating and enforcing a contract is

a. opportunity costs. b. real costs.

c. functional costs. d. transaction costs.

[3]

14. The tendency for managers to operate a firm in a way that maximizes their personal utility rather than

the firm's profits is referred to as the

a. consumer utility incentive. b. principalagent problem.

c. hidden agenda scenario. d. Modigliani hypothesis.

15. By tying a manager's compensation to the performance of the firm relative to that of its competitors,

corporate stockholders and directors create incentives that tend to resolve the

a. possibility of bankruptcy. b. hidden agenda scenario.

c. principalagent problem. d. firm's opportunity costs.

16. The globalization of business is reflected in all of the following except

a. the international convergence of consumer tastes.

b. the increase in barriers to international trade.

c. the emphasis on global marketing management training.

d. increasing domestic competition from foreign producers.

17. Which of the following is not a result of the spread of information technology?

a. More rapid deliveries of products to consumers

b. Reduced inventories

c. Reduced productivity of workers

d. Reduced need for middle management

18. Which of the alternatives to the modern theory of the firm holds that managers attempt to meet some

goal that is defined in terms of a specified level of sales, profits, growth, or market share?

a. Sales maximization model b. Management utility maximization model

c. Satisficing model d. Profit maximization model

19. Business profit is equal to total revenue minus

a. economic costs. b. explicit costs.

c. implicit costs. d. managerial costs.

20. Which of the following is an example of an implicit cost?

a. Dividends paid out to stockholders

b. The uncompensated services of the spouse of a firm's owner

c. Payments made to workers who are unproductive

d. All of the above are implicit costs.

21. Implicit cost is equal to

a. business profit minus economic profit.

b. business profit plus economic profit.

c. economic profit minus business profit.

d. economic profit minus explicit cost.

22. Which theory of profit holds that profit will be higher in industries characterized by a high degree of

variability in their revenues or their costs?

a. Riskbearing theory b. Frictional theory

c. Monopoly theory d. Innovation theory

23. Which theory of profit holds that profit will be higher in industries where firms in the industry are able

to prevent other firms from entering the industry?


c. Monopoly theory d. Managerial efficiency theory

24. Which theory of profit holds that a firm's profits can differ from zero only in the short run?


c. Monopoly theory d. Managerial efficiency theory

25. Which theory of profit views profit as a reward for introducing a new product or technique?


c. Monopoly theory d. Innovation theory

[4]

ANSWERS

1 2 3 4 5 6 7 8 9 10

B C A D C B A B C D

11 12 13 14 15 16 17 18 19 20

C A D B C B C C B B

21 22 23 24 25

A A C B D

[5]

TEST SERIES – 2

1. By which process individuals organize and interpret their sensory stimulations in meaningful

information.

a) Perception b) Intuition c) Analysis d) Self-serving bias

2. Which theory states that observation of the behaviour of others, individuals attempt to determine if the

behaviour is internally or externally caused.

a) randomness error b) utilitarianism c) attribution theory d) confirmation bias

3. If a person is seen as having been forced into a situation, what factor is influencing his behaviour?

a) internal b) independent c) external d) random

4. An individual has different behaviours in different situations can be referred to as?

a) Distinctiveness b) Consistency c) Consensus d) None of these

5. Judging people on the basis of the characteristics of the group to which he or she belongs is known as

a) projection b) escalation of commitment c) self-fulfilling prophecy d) stereotyping

6. The process through which people receive, select, organise and interpret information from their

environment?

a) Sensation b) Perception c) Behaviour d) Simplification

7. Which of these are perceptual inputs or stimuli?

a) Objects b) Events c) People d) All of these

8. The proper sequence of mechanism of perception is?

a) Selection – Organization – Interpretation b) Organization – Selection – Interpretation

c) Interpretation – Organization – Selection d) None of the above.

9. What are the principles according to perceptual process of organization?

i) figure ground ii) perceptual grouping iii) simplification iv) closure

a) only i & ii b) only ii & iv c) only i, ii, iii & iv d) only iii & iv

10. Which of these is the step of the rational decision-making model.

a) defining the problem b) analyzing the alternatives

c) weighing the evidence d) identifying the decision criteria

11. The rational decision making process covers which of the following & given by whom Simon Herbert?

a) the decision maker has complete information b) the decision maker is able to identify all of the relevant options in an unbiased manner

c) the decision maker will choose the option with the highest utility

d) all of the above

12. Person who depends much upon intuition is more subjective and a person who depends much upon

logical thinking is following which model?

a) bounded rationality b) intrinsic task motivation

c) creative thinking skills d) expertise

13. Which dimension of conscientiousness, increases the likelihood of escalation of commitment?

a) Dutifulness b) Achievement-striving c) Utilitarianism d) Self-esteem

14. Reference to the tendency of drawing a general impression about an individual based on a single

characteristic

a) Projection b) Halo Effect c) Selective Perception d) Stereotyping

15. Attributing one's own traits or characteristics to the people being judged.

a) Projection b) Selective Perception c) Stereotyping d) Impression

16. When people give cause & effect explanation to the observed behaviour it is known as?

a) Inference b) Attribution c) Impression d) Perceptual Set

[6]

17. What are the factors affecting perception?

a) Perceiver factor b) Target factor c) Situation factor d) All of these

18. Which of the following statements are true about gender differences in decision-making?

a) Men tend to analyze decisions more than women.

b) Women are less likely to engage in rumination.

c) Gender differences in decision-making are most clear among young children and older adults.

d) Women are more likely to carefully consider problems and choices.

19. Which of the following is/are NOT an organizational constraint?

i) performance evaluations ii) reward systems

iii) historical precedents iv) culture

a) Only iv b) only ii & iv c) only i & iii d) only i, ii & iii

20. Which is not an ethical decision-making criterion?

a) justice b) rights c) utilitarianism d) personal benefit

21. Increased commitment to a previous decision in spite of negative information is termed as?

a) optimizing decision making b) Escalation of commitment

c) reengineering d) Satisfying decision making

22. The style of decision making are careful decision makers with the ability to adopt to or cope with novel

or unexpected situations.

a) behavioural b) directive c) Analytic d) conceptual

23. Which of these are/is not an organizational constraint on decision making?

a) reward system b) performance evaluation

c) formal regulations d) personality

24. Which of these are theories of Decision Making?

a) Certainty b) Risk c) Uncertainty d) All of these

25. Probability obtained through inferences from assumed conditions.

a) Prior probability b) Empirical probability

c) Subjective probability d) All of these

ANSWERS

1 2 3 4 5 6 7 8 9 10

A C C A D B D A C D

11 12 13 14 15 16 17 18 19 20

D A B B A B D B A D

21 22 23 24 25

B C D D A

[7]

TEST SERIES – 3

1. Which of the following is the process of designing, gathering, analyzing & reporting info that may be

used to solve a specific marketing problem?

a) Marketing Research b) Marketing Management

c) Research & Development d) Marketing Intelligence

2. Which of the following is the process of designing, gathering, analyzing & reporting info that may be

used to solve a specific marketing problem?

a) Marketing Research b) Marketing Management

c) Research & Development d) Marketing Intelligence

3. The info system that gathers info generated by internal reports, including customer orders, billing,

receivables, inventory levels, sales, reports, customers data, & so on is called the_______

a) decision support system b) Marketing intelligence system

c) company marketing data d) Marketing info system e) internal reports system

4. How does the marketing research system differ from the Marketing Information System?

a) There is no difference, they are the same

b) Marketing research is continuous; other components of the Marketing Information System have a

beginning & an end

c) The marketing research system provides info not provided by other components of the Marketing

Information System d) The Marketing Information System is a component of the Marketing research system.

5. Which of the following consists of the entire group which the researcher wishes to make inferences

based on info provided by the sample data.

a) Consensus b) Census c) Subset d) Sample set e) Population

6. Which of the following is not true about the step-by-step marketing research.

a) It is possible to present the research process in many steps.

b) Research projects must be done in an orderly, step by step process.

c) It is possible to present the research process in just a few steps.

d) Not all research studies use each of the steps.

e) One value in characterizing research projects in terms of successive steps is that it provides an

overview of the entire research process.

7. All of the following may be valid reasons for not conducting marketing research except.

a) The needed info is already available

b) The need to respond quickly to competition means there is not time to conduct Marketing Research

c) Costs outweigh the value of Marketing Research

d) Funds are not available for Marketing Research e) The needed info cannot be obtained internally or from other ongoing sources of info.

8. Which kind of data should always be sought first as it is relatively cheap & fast to collect?

a) First hard data b) Preliminary data c) Secondary data d) Primary data

9. Whether the research design requires that respondents be asked questions or that their behaviour be

observed, the standardized forms used to record the info are called_____

a) protocols b) logs c) surveys d) observation forms e) questionnaires

10. Who is recognised today as being the "Father of Marketing Research".

a) Charles coolidge parlin b) M.G. Mayer c) Stephen Walker d) William Henry Harrison

11. When a firm has its own Marketing Research department this is known as an _____ supplies

a) external b) internal c) independent field services d) strategic alliance e) "involved"

12. The criticism of the Marketing Research industry include all of the following except:

a) The Marketing Research industry is too tool oriented

b) The Marketing Research industry operates in a "silo"

c) Marketing Research no longer represents the "voice of the consumer"

d) Marketing Research has reduced the high no of new product failures

e) Marketing Researchers need to speed up Marketing Research using Information Technology

[8]

13. Which of the following is the name of the philosophy that is concerned with the rights of the

individuals & states that if an individual's rights are violated the behaviour is not ethical?

a) Integriology b) Teleology c) Nemotology

d) Suggacology e) Deontology

14. If a study is conducted & info is with held falsified, altered on misinterpreted, this would be known as a

loss of:

a) Sugging ability b) Frugging ability

c) Unqualified certification d) Research integrity

15. Why do some people believe "Mystery shopping" unethical?

a) There should be no mysteries in Marketing Research

b) Shoppers should never find shopping to be a mystery

c) It involves the use of deception

d) Employees can control the mystery shoppers.

16. Which type of research methods are designed to elicit responses to predetermined, standardized

questions from a large no. of respondents?

a) Quantitative b) Qualitative c) Probability d) Non-probability

17. One thing that is usually true of focus group is that:

a) most groups involve a small no. of participants

b) they usually average 5 to 10 minutes in length c) the moderator's job is to keep the group busy for the entire time & not let anyone leave

d) the questions used are highly structured & response-driven.

18. What is the terms used to describe the degree to which the data elicited in a study is replicated in a

repeat study?

a) Replication b) Pre-code c) Reliability d) Convenience

19. Which sampling techniques are often selected in qualitative research?

a) non-probability sampling b) probability sampling

c) stratified sampling d) random sampling

20. Criteria like gender, ethnicity, or some other customer characteristic are used to restrict the sample, but

the selection of the sample unit is left to the judgement of the researcher. This is called:

a) Random sampling b) stratified random sampling

c) quota sampling d) convenience sampling

21. Which of the following is not one of the categories of research design?

a) Exploratory research b) Descriptive research c) Causal research d) Desk research

22. A common research technique, used particularly in retailing where consumers are recruited by

researches where consumers are recruited by researches to act as anonymous buyers in order to

evaluate customer satisfaction is referred to as:

a) Qualitative research b) mystery shopping c) quantitative research d) Ethnography

23. When little is known about the problem, research seeking to discover the cause of a problem by

discussing the problem with informed sources & examining pre-existing data is undertaken. This type

of research is:

a) situation analysis b) information investigation

c) exploratory research d) bottom-line analysis

24. Which of the them is not the internal secondary source of data?

a) Company profit-loss statements b) balance sheets

c) Moody's Manuals d) Inventory records

25. Which kind of research is regarded as the most scientifically valid research

a) Observational Research b) Focus-group research

c) Survey research d) Experimental research

[9]

ANSWERS

1 2 3 4 5 6 7 8 9 10

A A E C E B E C E A

11 12 13 14 15 16 17 18 19 20

B&C D E D C A A C A C

21 22 23 24 25

D B C C D

[10]

TEST SERIES – 4

1. What is Scheduling?

a) Prescribes the sequence of operations to be performed.

b) Is concerned with the starting of processes.

c) Determining the programme for the operations.

d) None of these

2. What is breakeven point?

a) Fixed & total cost lines inter sect. b) Fixed & Variable cost times inter set.

c) Sales revenue & cost lines inter sect. d) None of these

3. Which one of the following does not come under qualitative forecasting method?

a) Delphi method b) Moving average methods

c) Judgmental methods d) Life cycle analogy

4. The measure of forecast error which calculates the average of absolute differences between the actual

and the forecast demand over n time periods is known as:

a) mean absolute percentage error b) mean absolute deviation

c) mean-square error d) mean error

5. Which these forecasting method is suitable for launching new products?

a) Market research b) Judgmental methods

c) Moving average methods d) Exponential smoothing

6. The correct sequence of operations in production planning and control is

a) Routing-Scheduling-Dispatching-Follow up b) Scheduling-Routing-Dispatching-Follow up

c) Dispatching-Routing-Scheduling-Follow up d) Routing-Scheduling-Follow up-Dispatching

7. Master schedule is for

a) Single product continuous production b) Multi product batch production

c) Assembly product continuous production d) Single product batch production

8. The bill of material does not consists of

a) Part number b) Specifications of part c) Name of the part d) Price of the part

9. Centralized and decentralized are type of which of these?

a) Routing b) Dispatching c) Scheduling d) Follow up

10. The transit time is made up of

a) Time taken by raw material from machine to machine

b) Time consumed in moving the work between various departments

c) Time taken by a worker to machine a component

d) None of these

11. Gantt chart is mostly used for

a) Routing b) Scheduling c) Follow up d) Inspection and quality control

12. What do you understand by

a) Sending the raw material to the machine b) Sending the finished material to the store

c) Assign the work to the facilities d) Uploading a software in machine control panel

13. Which of the these is not a part of Five M's?

a) Material b) Machine c) Motion d) Method

14. Procurement cycle time is time consumed for

a) Receiving of raw material b) Inspection of various raw materials

c) Inspection of purchased components parts d) All of these

15. The start of production operations is started by.

a) Release of material and components from stores to first process

b) Release of material from process to process

c) Issue of drawings instruction sheets

Which of the following is (are) true?

a) only i b) only ii c) i & ii d) i, ii & iii

[11]

16. Which of the following chart is drawn Machine vs time?

a) Man machine chart b) The load chart c) The progress chart d) Curve chart

17. Decisions relating to production scheduling involve:

a) short-term forecasting b) medium-term forecasting

c) long-term forecasting d) both short-term as well as medium-term forecasting

18. Which of the following conditions is the market research method of forecasting suitable?

a) When a firm is working with stable technology

b) When a firm is planning moderate changes on product innovations

c) When a firm is market testing one of its new offerings

d) When a firm is working with stable technology, planning moderate changes on product innovations

or market testing one of its new offerings.

19. What is the measure of forecast error which calculates the average forecast error over n time periods

known as?

a) Mean absolute percentage error b) Mean-square error

c) Mean absolute deviation d) Mean error

20. Which of the following method is suitable for forecasting the demand of a product?

a) Delphi method b) Market research

c) Judgmental methods d) Delphi method and judgmental method

21. The measure of forecast error which calculates the average of absolute forecast errors as a percentage

of the actual demand is known as:

a) mean error b) mean-square error

c) mean absolute percentage error d) mean absolute deviation

22. Which of the following is correct for

a) It is flow of work in the plant b) Route sheets include list of machine tools that are to be followed

c) It depends upon material handling facilities d) All of these

23. Key to chart is provided in

a) Man machine chart b) The load chart c) The progress chart d) Gantt chart

24. Decisions relating to the sales and operations planning involve:

a) short-term forecasting b) medium-term forecasting

c) long-term forecasting d) both short-term and medium-term forecasting

25. The forecast errors is known as:

a) mean-square error b) mean absolute deviation

c) mean absolute percentage error d) mean error

ANSWERS

1 2 3 4 5 6 7 8 9 10

A C B B B A C D B B

11 12 13 14 15 16 17 18 19 20

B C C D D B A D D A

21 22 23 24 25

C D D B A

[12]

TEST SERIES - 5

1. Which of these statements present classified record according to Balance of Payments?

a) Capital received by residents b) Services rendered

c) All receipts on account of goods exported d) All of the above

2. Which of these are components of Balance Payments?

a) Current Accounts b) Capital Account c) Unilateral Payments Accounts d) All of these

3. Which of these are not the items of credits under current account?

a) Merchandise Imports b) Invisible Imports

c) Tourists expenditure abroad d) All of the above

4. Which account is considered to be 'giving the gifts'?

a) Capital Account b) Unilateral Transfer Account

c) Saving Account d) None of these

5. Which of these are the causes of Disequilibrium?

a) Economic Factors b) Development Disequilibrium

c) Cyclic Disequilibrium d) All of these e) All of these

6. What do you understand by CRR?

a) Cash Revert Ratio b) Cash Reserve Ratio

c) Casual Rate Rent d) None of these

7. SLR stands for?

a) Standing Left Right b) Statutory Liquidation Rent

c) Statutory Liquidity Ratio d) None of these

8. Which of these are methods of correction of Disequilibrium?

a) Automatic Corrections b) Deliberate Measures

c) Monetary Measures d) All of the above

9. From where importers get permission for import to use foreign exchange?

a) SBI b) World Bank c) RBI d) UNDP

10. Which of these are Export Promotional Measures?

a) EOU b) EPZ c) FTZ d) All of these

11. Import Central measures include which of these measures?

a) import duties b) liberal loans c) fiscal incentives d) FTZ

12. What you understand by devaluation

a) Domestic currency is devalued against foreign currencies.

b) Monetary measures aim at reducing imports through reducing money.

c) Both a & b

d) None of these

13. Headquarters of IMF are located in which country?

a) Canada b) Washington c) Geneva d) Scotland

14. IMF was created in which year?

a) 1943 b) 1944 c) 1945 d) 1946

15. How many members IMF had in year 1947?

a) 42 b) 43 c) 44 d) 45

16. Which of these are the objectives of IMF.

a) Avoid the competitive devaluation and exchange control

b) develop multilateral trade and payments

c) establish & maintain currency convertibility with stable exchange rates?

d) All of these

[13]

17. What type of organization is IMF?

a) Voluntary b) Autonomous c) Involuntary d) None of these

18. Structure of IMF consists of?

a) Board of governors b) Executive board c) Interim Committee d) All of these

19. How much percentage was required by each member to pay in form of gold at the time of formation of

IMF.

a) 10% b) 20% c) 25% d) 30%

20. Executive board of IMF has how many members at present?

a) 20 b) 21 c) 22 d) 23

21. Who is MD of IMF at present?

a) Indra Noogi b) Chanda Kochar c) Christine Lagarde d) Jim Yong Kim

22. When was Interim Committee of IMF was created?

a) 1972 b) 1973 c) 1974 d) 1975

23. Who identifies shortcomings of IMF?

a) Jim Yon Kim b) Tom de Vries c) Kin Lo Ming d) Mary versles

24. Who is President of world bank?

a) Narendra Modi b) Jim Yong Kim c) Shashi Tharoor d) None of these

25. What is IFC?

a) International Finance Corporation b) Indian Finance Cooperation

c) International Food Cooperative d) None of these

ANSWERS

1 2 3 4 5 6 7 8 9 10

D D D B E B C D C D

11 12 13 14 15 16 17 18 19 20

A A B B C D B D C B

21 22 23 24 25

C C B B A

[14]

TEST SERIES – 6

1. Tom Regan that sentient animals, human and non human, posses equal ______ and therefore have an

equal moral right not to be treated as means to an end.

a) Instrumental value b) Intrinsic value c) Individual worth d) Instinctive worth

2. Moral theories have tended to argue that humans the granted moral status because they are capable of

making _______ choices.

a) free and rational b) virtuous and rational c) free & dutiful d) dutiful & rational

3. Biocentrism expands the sphere of moral status to all living things, often relying on the justification

that living strive for their own goals and are thus ______ in nature.

a) biological b) ecological c) ontological d) teleological

4. According to ecological holism, this is main unit of moral concern.

a) biotic community b) species c) human beings d) individual living beings

5. According to Kant, human beings are granted special moral status because they are ____.

a) moral agents b) moral patients c) sentient beings d) moral deciders

6. This view holds that non-human animals have moral status in addition to human beings.

a) biocentrism b) zoo centrism c) Individual worth d) ecological individual

7. According to animal rights advocates such as Peter Singer, this feature is relevant in attributing moral

status to entities other than human beings.

a) Sentience b) Intrinsic Consciousness c) Responsiveness d) Conscience

8. What type of ethics is environmental ethics?

a) theoretical b) ancillary c) technological d) applied

9. When applied to the environment, one main criticism of traditional moral theories is that they are

strongly aligned with this view.

a) Species egalitarianism b) life centred

c) anthropocentrism d) ecological individualism

10. This view holds that the environment ought to receive moral consideration only insofar as it related to

human beings.

a) humanism b) Kantian ethics c) anthropocentrism d) species non-egalitarianism

11. Bio-centric holds that all living entities have moral status.

a) True: Bio-centrism is a life centered ethics and holds that living things deserve moral consideration

whether they are sentient or not.

b) True: Because biocentrism is a life centered ethics and holds that all living entities deserve equal

moral consideration.

c) False: Because biocentrism holds that only living entities that can experience pleasure or pair

deserve moral.

d) False: Because biocentrism holds that both living and non-living entities have moral status.

12. An anthropocentrism views plants, animals and ecosystem as a mean to enhance the well being of

human kind, or to serve the ___________

a) ends b) desires c) whims d) health

13. Biocentrism, or life centred ethics, holds that we must account for both ______ living beings in our

moral deliberations.

a) Conscious & sub conscious b) instrumental & intrinsic

c) sentient and non sentient d) rational & irrational

14. Something has _________ if it is suitable candidate for moral concern or respect in its own right.

a) ecological status b) instrumental status c) moral status d) intrinsic value

15. Which bio-centric view holds that all living things have equal moral status?

a) species no egalitarian b) zoocentric individualism

c) species egalitarian d) biocentric holism

[15]

16. What is the purpose is National Environmental Protection Act (NEPA)?

a) To provide on ethical framework for the state agencies that monitor environmental activity.

b) To create a regional network of environmentally supportive policies that states may modify.

c) To promote informed decision-making by federal agencies by providing detailed information

concerning environmental impacts.

d) To enact more effective but less stringent policies affecting specific areas of environmental concern.

17. Which is not a theory of environmental ethics?

a) Ecocentricism b) biocentricism c) ethnocentricism

d) anthropocentricism e) above all

18. Which major theory of environmental ethics holds that the environment deserves a kind of direct moral

consideration that is not merely derived from human (or animal) interests?

a) biocentricism b) ecocentricism c) developmental ethics

d) environmental anthropocentricism e) none of the above

19. A preservation ethic is based on individualism and egocentricism.

a) True b) False

20. Which of the following does not FIT into a preservation ethic attitude towards the environment?

a) Human species depend on, and learn from nature.

b) a reverence for life and respect for the rights of all creatures.

c) Continual charge and human progress is good itself.

d) human species depend on, and learn from nature.

21. Many modern, industrial societies share a belief in economic ground and resource exploitation?

a) True b) False

22. Many oil carriers respond to the Oil Protection of 1990, passed in the wake of the Exxon Valdez oil

spill in Alaska by shifting oil transport from supertankers to less regulated barges.

a) True b) False

23. The CERES principles are

a) designed to eliminate the production of greenhouse gases.

b) antipollution codes that were adopted at the first Earth Summit in 1992.

c) a set of voluntary environmental standards for business.

d) codes for protection of salmon fisheries.

24. How does the gap between rich and poor countries contribute to the current environmental crisis?

a) developed countries consume or disproportionate share of the resources.

b) rapid industrialization in developing countries poison cities.

c) increased agricultural production in developing countries often destroys soils and forests.

d) All of the above

25. According to animal right advocates such as Peter Singer, this feature is relevant in attribute moral

status to entities other than human beings.

a) Sentience b) Conscience c) Responsiveness d) Consciousness

ANSWERS

1 2 3 4 5 6 7 8 9 10

B A D A A B A D C C

11 12 13 14 15 16 17 18 19 20

A A C C C C C B B C

21 22 23 24 25

A A C D A

osn academy · which of the following is the best definition of managerial economics? ......

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