MCQ Bank
Which theory was proposed by David Ricardo in 1817?
- A) Acquired advantage
- B) Natural advantage
- C) comparative advantage
- D) Resource efficiency advantage
How many U.S industrial corporations are Multinationals today?
- A) 500
- B) 300
- C) 400
- D) None of the above
Which one of the following best describes how benefits and burdens should be distributed among
the members of a group?
- A) Standards of justice
- B) None of the above
- C) Utilitarian standards
- D) Standards of caring
Which philosopher of utilitarianism presents the cost-benefit analysis?
- A) Kant
- B) Mill
- C) Aristotle
- D) Bentham
Survival of the fittest means:
- A) Survival of the nature
- B) Survival of the best
- C) Settlement of conflict
- D) Human progress
On what grounds Carol Gilligan criticized Kohlberg's research?
- A) Stages of growth in moral development
- B) It describes both male and female characteristics
- C) It ignores female approach to moral development
- D) It describes female characteristics
In which Year Township and village enterprises (TVEs) legalized?
- A) 2004
- B) 1984
- C) 1974
- D) 1994
To which of the following we cannot assign monetary value?
- A) Friendship
- B) Peace
- C) All of the above
- D) Love
Which one of the following is NOT a component of free market systems?
- A) Voluntary exchange system
- B) Private property system
- C) Communitarian system
- D) None of the given options
The categorical imperative incorporates two criteria for determining moral right and wrong. Which of the following is one of the criteria?
- A) Inconsistency
- B) Consistency
- C) Relativism
- D) Universalizabilty
Which of the following economic principle is first posted by Adam Smith to describe that the greatest benefit to a society is brought about by individuals in the pursuit of their own self-interest?
- A) Economic freedom
- B) Free trade
- C) Positive sum game
- D) Invisible hand
Which one of the following is not considered as a moral standard?
- A) Respect moral rights
- B) Undistribute benefits and burdens
- C) Exercise caring
- D) Maximize social utility
A distinct advantage in skills, technology, and/or capital assets that yields differentiated product offerings are indicators of?
- A) Natural advantage
- B) Technological advantage
- C) None of the above
- D) Acquired advantage
Which of the following laws have no concern with morality?
- A) Both a & b
- B) Parking laws
- C) Dress codes law
- D) None of the above
Who has stated the principle of comparative advantage?
- A) Eli Heckscher
- B) David Ricardo
- C) Adam Smith
- D) Bertil Ohlin
Which of the following is/are an essential component(s) of moral reasoning?
- A) Both a & b
- B) b) Evidence or information regarding these moral standards
- C) a) Understanding of reasonable requirement of moral standard
- D) None of the given options
Which of the following best describes the theory of 'absolute advantage'?
- A) Developed countries have a competitive advantage over underdeveloped countries
- B) None of the given options
- C) Strategy of businesses who always seek to gain comparative advantage over their rivals.
- D) Country A is specialized in producing product X and B in product Y. If both countries trade together, then both countries will gain.
Which one of the following is an alternative to moral principles?
- A) Real Ethics
- B) Virtue Ethics
- C) None of the above
- D) Logic Ethics
The factor that approximates the extent to which a government intervenes in the areas of free choice, free enterprise, and market-driven prices is known as?
- A) Economic liberty index
- B) Economic Freedom Index
- C) Economic independence index
- D) None of the above
Which of the following refers to the reasoning process by which human behaviors, institutions, or policies are judged to be in accordance or not with moral standards?
- A) Moral duty
- B) Moral reasoning
- C) None of the above
- D) Moral justice