Name: Sabeen Ashraf Registration Number: L1F10MBAM2085 Course Name (Code): Business Ethics Section: E Assignment Number: 03 Date:

30th March, 2012 Title: Mcqs of chapter no. 02

CHAPTER NO. 03

THE BUSINESS SYSTEM

Choose the correct options.

1. An economy that keeps a market and private property system but have faith heavily on Government rules to cure their deficiencies. a. Free economy b. Mixed economy c. Capitalism d. Socialism Answer: _ B

2. Capitalist systems offer only two sources of income, sale of ones own labor and ownership of the means of production. a. According to Ricardo b. According to Keynesian c. According to Adam d. According to Marx Answer: _ D

3. It is a position of a company in a reasonable landscape that allows the company earning return on investments higher than the cost of investments. a. Competitive Advantage b. Absolute Advantage c. Cost Advantage d. None of the above Answer: _ A

4. Free markets alone are not automatically the most effective resources for organizing the use of societys resources. a. Social Darwinism b. Absolute Advantage c. Keynesian Economics d. Social Superstructure Answer: _ C

5. No one can be put out of this estate and subjected to the political power of another without his own consent. a. b. c. d. Rights and Justices Law of Nature Rights and Duties Maxim

Answer: _ B