Answer the question in this section by writing the correct letter against the corresponding question number. For example: 1.1 (a)

1.1. Perfectly competitive markets incorporate forces that inevitably drives buyers and sellers towards the point of equilibrium. Which one of the below moral values is not achieved?

a) Lead buyers and sellers to exchange their goods in a just way.

b) Maximise the sellers profits.

c) Maximise the utility of the buyers and sellers.

d) Bring about the achievements in a way that respect buyers and sellers.

1.2. Which one is not an unethical practice in Oligopoly markets:

a) Price fixing

b) Manipulation of Supply

c) Seeking discounts from suppliers

d) Market Allocation

1.3. What term is used to refer when different people make different claims on societys benefits and burdens and all the claims cannot be satisfied?

a) Compensatory justice

b) Retributive justice

c) Distributive justice

d) Ordinary justice

1.4. Which one of the below describes a situation where one countrys production cost are lower than the rest of other countries?

a) Absolute advantage

b) Fair advantage

c) Comparative advantage

d) Relative advantage

1.5. What term is used to describe a system of normative beliefs shared by members of a social group?

a) Culture

b) Society

c) Tradition

d) Ideology

1.6. ___________ is a free market which no buyer or seller has power to significantly affect prices at which goods are exchanged.

a) Perfect competition

b) Monopoly

c) Oligopoly

1.7. ______________________is the discrimination that is the result of the actions of all or many of the people in an institution and of their routine processes and policies.

a) Intentional discrimination

b) Unintentional discrimination

c) Institutional discrimination

d) Individual discrimination.

1.8. Which one of the following practices is not discriminatory practice at the workplace?

a) Autocratic practices

b) Recruitment practices

c) Screening practices

d) Promotion practices

1.9. Moral issues raised by advertising are complex. Below are the factors that should be taken into consideration when determining the ethical nature of a given advertisement. Which one is not a factor to be considered?

a) Economic effects

b) Social effects

c) Effects on Desire

d) Effects on Belief

1.10. Which one of the following is not the producers responsibility of duty to exercise due care?

a) Distribution

b) Design

c) Production

d) Marketing