Which of the following country is said to have a society with great social consciousness?

• A) England
• B) Pakistan
• C) India
• D) America

Increase in cost of doing business due to bribe is more visible in which of the following kind of state?

• A) Autocratic states
• B) Totalitarian states
• C) Theocratic states
• D) Democratic states

Increase in cost of doing business due to bribe is more visible in which of the following kinds of state?

• A) Democratic states
• B) Totalitarian states
• C) Autocratic states
• D) Theocratic states

Which of the following are norms that are seen as central to the functioning of a society and to its social life?

• A) Values
• B) Folkways
• C) Ethics
• D) Mores

Which one of the following is an assumption of David Ricardo’s theory?

• A) No transportation cost
• B) Difference in exchange of returns
• C) Production rate fluctuation
• D) Variable returns to scale

What happens to the currency value when we produce more paper money?

• A) Paper money has no relation with the value of currency
• B) Value increases
• C) Devaluation
• D) Value remains the same

GDP stands for gross domestic production.

• A) True
• B) False
• C)
• D)

Which of the following country is famous for the export of cocoa?

• A) Mexico
• B) Italy
• C) France
• D) Ghana

China, Korea, and Japan, emphasize family and work group goals, this is the example of Individualism culture.

• A) True
• B) False
• C)
• D)

The shift toward a market-based economic system typically entails a number of steps. Which of the following is a correct sequence?

• A) Deregulation, creation of a legal system and privatization
• B) Privatization, deregulation and creation of a legal system
• C) Creation of a legal system, deregulation and privatization
• D) Deregulation, privatization and creation of a legal system

Interest rates, recession and inflation are some of the economic risk factors.

• A) True
• B) False
• C)
• D)

Association of two or more individuals who have a shared sense of identity and interact with each other in structured ways on the basis of common behavior is termed as:

• A) Group
• B) Division
• C) Class
• D) Association

Among the following, which country has strong and rigid cast system?

• A) India
• B) Pakistan
• C) America
• D) England

Appropriate dress code, good social manners and eating with correct stencils are:

• A) Mores
• B) Folkways
• C) Rituals
• D) Traditions

In transforming economies like many African countries, international business firms have to bare extra cost and they are reluctant to enter there because they mostly face resistance by:

• A) Geographical conditions
• B) Their political system
• C) Local War Lords
• D) Their culture

Who argued for the first time that unrestricted free trade is beneficial to a country?

• A) Carl Max
• B) Adam Smith
• C) Francis Huntington
• D) Samuel Fukuyama

Who was the founder of Confucianism?

• A) K’ung-Fu-tzu
• B) Qin Shi Huang
• C) Zhu Xi
• D) Han Wudi

Which of the following reason is the key for the success of Islamic banking in Pakistan?

• A) Our banking is integrated
• B) Islam does not allow interest based systems
• C) Government support program
• D) State bank regulations

Businesses are not affected by changes in the technological environment.

• A) True
• B) False
• C)
• D)

Beliefs and behaviors are not part of culture differences.

• A) False
• B) True
• C)
• D)