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Updated: Jun 09, 2026
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WGU Global Economics for Managers (C211, UZC2) Sample Questions:
1. What are key features of an oligopoly? (Choose THREE.)
A) There is little motivation for cooperation between firms.
B) The actions of any one seller have little impact on others' profits.
C) The actions of any one seller can have a large impact on the profits of other sellers.
D) Firms in an oligopoly are interdependent in ways competitive firms are not.
E) There are a few sellers.
F) Firms are independent of one another, like competitive firms.
2. Which statement is a description of theocratic law?
A) It is a legal system that is the oldest, most influential, and most widely distributed in the world.
B) It is a legal system based on religious teachings and dogma.
C) It is a legal system that is shaped by precedents and traditions from previous judicial decisions.
D) It is a legal system that uses comprehensive statutes and codes as a primary means to form legal judgments.
3. Which GDP component is affected when a parent pays for a child's college education?
A) Government purchases
B) Net exports
C) Consumption
D) Investment
4. When is it best for a firm to restart production?
A) When total variable costs are less than total revenue after a short-term stop
B) When total cost is greater than total revenue
C) When total revenue is less than total cost
D) When marginal cost is greater than marginal revenue
5. The marginal cost of producing a computer is $600, but the marginal revenue is $1,000. What is the best action for the respective firm?
A) Exit the market
B) Decrease production
C) Increase production
D) Pause production
Solutions:
| Question # 1 Answer: C,D,E | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: C |
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