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WGU Global-Economics-for-Managers Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Competency 1: International Trade and Currency Exchange | - Currency Exchange Rate Determination - Impact of Interest Rates on Financial Flows and Exchange Rates - Introduction to International Trade Theories |
| Topic 2: Competency 2: Political and Economic Forces | - Market Economy vs. Command Economy - Property Rights and the Rule of Law |
| Topic 3: 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 4: Key Topics Across All Competencies | - Supply and Demand Shifts - Currency Appreciation and Depreciation - Foreign Direct Investment (FDI) Impacts - International Trade Policies (Tariffs, Quotas) - Elastic vs. Inelastic Goods - Global Business Strategies and Porter's Framework |
WGU Global Economics for Managers (C211, UZC2) Sample Questions:
1. What is the Nash equilibrium?
A) An agreement among firms in a market over production and price
B) A particular situation between two entities that illustrates why cooperation is difficult to maintain even when it is mutually beneficial
C) A situation in which economic actors interacting with one another each choose their best strategy from among all available strategies currently being used by said actors
D) A group of firms illegally acting in unison to improve profits or dominate a market
2. What are features shared by monopolies and perfect competition? (Choose TWO.)
A) In the long run, new firms can easily enter the market.
B) In the long run, it is nearly impossible for new firms to enter.
C) Firms earn economic profits in the short run.
D) The structure does not produce the welfare-maximizing level of output.
E) Price is greater than marginal cost.
F) Maximum profit occurs when marginal revenue equals marginal cost.
3. What are three characteristics of industries primed for collusion? (Choose THREE.)
A) A price leader
B) High product differentiation
C) Homogeneous products
D) Free entry and exit
E) A small number of rivals
F) Perfect information for consumers
4. Which statement describes turnkey projects?
A) Two companies agree to mutually refer customers.
B) Two or more parent companies create and own a new entity.
C) Companies build new factories and offices from scratch.
D) Clients pay contractors to design and construct new facilities and train personnel.
5. What is one of the elements of the Porter Diamond in the theory of national competitive advantage of industries?
A) Trade deficits
B) Foreign supply markets
C) Firm opportunity costs
D) Domestic demand conditions
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C,F | Question # 3 Answer: A,C,E | Question # 4 Answer: D | Question # 5 Answer: D |






