MCQ Bank

A defining characteristic of a perfectly competitive market is the complete absence of barriers to entry and exit, allowing firms to freely and immediately enter or leave the market. This ensures continuous adjustment to supply and demand.

MGT610 Final Term AI Solved

Q138

Ozone is a protective layer in atmosphere is made of?

A) Oxygen gas
B) None of the above
C) Methane gas
D) Carbon Dioxide gas

AI Explanation

Ozone is a specialized allotrope of oxygen, consisting of three oxygen atoms bonded together (O3). It forms a protective layer in the stratosphere that shields the Earth's surface from harmful ultraviolet radiation.

MGT610 Final Term AI Solved

Q139

A conception of nature wherein humans and nature together form a moral community is known as?

A) Racism
B) Holism
C) Environmentalism
D) None of the above

AI Explanation

Holism in environmental philosophy views humans and nature as interconnected parts of a single, unified moral community. This perspective emphasizes that moral consideration extends beyond individual human beings to entire ecosystems and biotic communities.

MGT610 Final Term AI Solved

Q140

How much of the world’s surface is too polluted to fish or swim in?

A) 50%
B) 30%
C) 40%
D) 60%

AI Explanation

Environmental assessments indicate that roughly 30 percent of the world's water surface has become too polluted to support safe fishing or swimming. This highlights the widespread impact of industrial and municipal water pollution.

MGT610 Final Term AI Solved

Q141

How many percent of forests have been decreased in the world between 1980 and 1995?

A) 7 %
B) 6 %
C) 8 %
D) 5 %

AI Explanation

Global environmental data covering the period from 1980 to 1995 shows that approximately 7 percent of the world's total forest cover was lost. This deforestation contributed significantly to habitat destruction and greenhouse gas emissions.

MGT610 Final Term AI Solved

Q142

What is the percentage of US companies that had been involved in antitrust suits during the previous five years?

A) 12%
B) 10%
C) 11%
D) 9%

AI Explanation

Studies examining corporate legal history indicate that about 10 percent of U.S. companies had been involved in antitrust suits during the analyzed five-year period. Antitrust litigation remains an important mechanism for regulating market competition.

MGT610 Final Term AI Solved

Q143

Which of the following is not a feature of perfect competition?

A) Buyers and sellers can freely and immediately enter or leave the market
B) External parties regulate the price, quantity, or quality of the goods being bought and sold in the market
C) All buyers and sellers are utility maximizers
D) There are numerous buyers and sellers, none of whom has a substantial share of the market

AI Explanation

In a perfectly competitive market, prices, quantities, and qualities are determined entirely by decentralized supply and demand forces rather than external regulation. Government or external intervention characterizes regulated markets instead of pure competition.

MGT610 Final Term AI Solved

Q144

How many species of plant and animal inhabiting the planet?

A) None of the above
B) 2 Million
C) 3 Million
D) 1 Million

AI Explanation

Scientific estimates place the total number of described and estimated plant and animal species on Earth significantly higher, often ranging in the tens of millions or at least several million. Therefore, none of the specific low figure options accurately reflect biodiversity estimates.

MGT610 Final Term AI Solved

Q145

A combination of water and air that is poisoned is known as?

A) Chemical rain
B) Poisonous rain
C) Acid rain
D) None of the above

AI Explanation

Acid rain is formed when atmospheric moisture mixes with sulfur dioxide and nitrogen oxides emitted by human activities, creating poisoned precipitation. This environmental phenomenon causes severe damage to forests, aquatic ecosystems, and structures.

MGT610 Final Term AI Solved

Q146

The benefits of pollution control should flow to those who have had to bear?

A) External costs of pollution
B) Both a & b
C) None of the above
D) Internal cost of pollution

AI Explanation

Distributive and compensatory justice require that the financial and health benefits of pollution control flow directly to those individuals who bore the externalized costs and harms of pollution. Ensuring this alignment restores fairness to affected communities.

MGT610 Final Term AI Solved

Q147

How many views do exist in society in the face of the high degree of market concentration in oligopolistic industries?

A) Four
B) Two
C) None of the above
D) Three

AI Explanation

Discussions surrounding high market concentration in oligopolistic industries generally feature three main perspectives or views: the antitrust view, the nonintervention or Chicago school view, and the Schumpeterian or innovative competition view.

MGT610 Final Term AI Solved

Q148

Which one of the following is the principal Utilitarian remedy for pollution?

A) To internalize external costs of production
B) To externalize internal costs of production
C) To maximize the total social cost of production
D) To minimize the total social cost of production

AI Explanation

From a utilitarian standpoint, the principal remedy for pollution is to achieve a balance where the total social costs of pollution are minimized. This involves weighing the costs of pollution control against the social benefits of production.

MGT610 Final Term AI Solved

Q149

Which type of resource depletion is marked by increasing rates of usage and sudden, complete depletion within a short period of time?

A) Depletion of fossil fuels
B) Species depletion
C) Exponential depletion
D) Peaked depletion

AI Explanation

Exponential depletion describes a resource consumption pattern characterized by accelerating rates of usage over time, resulting in rapid and sudden exhaustion once reserves approach critical thresholds.

MGT610 Final Term AI Solved

Q150

Examples of social systems of hierarchy include all except?

A) None of the given options
B) Racism
C) Capitalism
D) Social classes

AI Explanation

Social systems of hierarchy typically involve structured inequalities of power, status, or privilege, such as racism, sexism, and social classes. Capitalism is an economic system based on private ownership and market exchange rather than an inherent social hierarchy system.

MGT610 Final Term AI Solved

Q151

Who argues that though it is unjust to impose heavy burdens on present generations for the sake of the future?

A) John Rawls
B) None of the above
C) John Locke
D) Adam smith

AI Explanation

John Rawls addresses intergenerational justice in his theory, discussing how burdens and benefits should be fairly distributed across generations without unjustly sacrificing present welfare entirely for the distant future.

MGT610 Final Term AI Solved

Q152

Which of the following refers to the consumption of finite or scarce resources?

A) Ozone depletion
B) None of the above
C) Economic depletion
D) Resource depletion

AI Explanation

Resource depletion specifically refers to the consumption, exhaustion, and reduction of finite or scarce natural resources faster than they can be naturally replenished.

MGT610 Final Term AI Solved

Q153

Which one of the following is not a view in the face of high degree of market concentration in oligopolistic industries?

A) Do-Nothing view
B) Economy View
C) Regulation view
D) Antitrust view

AI Explanation

The standard economic and business ethics literature identifies three main views regarding oligopolistic concentration: the antitrust view, the do-nothing (or Chicago school) view, and the regulation view. The 'Economy View' is not recognized as one of these standard viewpoints.

MGT610 Final Term AI Solved

Q154

Internalizing external costs is also consistent with which form of justice?

A) Both a & b
B) Compensatory justice
C) Retributive
D) None of the above

AI Explanation

Internalizing external costs is primarily aligned with distributive and corrective justice principles by ensuring producers and consumers pay the full social cost of their actions. Since distributive justice is not among the options (retributive and compensatory being different forms), none of the given choices is correct.

MGT610 Final Term AI Solved

Q155

Group of thinkers, sees the key form of hierarchy connected to the destruction of the environment as the domination of women by men is known as?

A) None of the above
B) Eco-feminists
C) Both a & b
D) Eco-masculinity

AI Explanation

Eco-feminists argue that the domination of women by men and the domination of nature are deeply interconnected forms of oppression rooted in patriarchal hierarchies. They contend that resolving environmental crises requires dismantling these underlying systems of social domination.

MGT610 Final Term AI Solved

Q156

Who should bear the costs of pollution control?

A) Who cause pollution
B) None of the given options
C) Both who cause and benefited from pollution
D) Who benefited from pollution

AI Explanation

Principles of distributive and retributive justice dictate that pollution control costs should be shared by those who create the environmental harm as well as those who profited from the activities causing it. This ensures that the financial burden aligns with responsibility and benefit.