Test you understanding of key chapter concepts by working through this quiz. You can check your answer by clicking on the arrow to the right or on what you think the correct answer is.  The correct answer will then be revealed to you for that question.

1. Economic neo-liberalism sees _____________ as the defining characteristic of human relations.

  1. Competition
  2. Monopoly
  3. Price-fixing
  4. All of the above


a. Competition

2. Adam Smith saw the theory of _____________ as central to the study of economy and society.

  1. Pricing goods
  2. Transaction efficiency
  3. Moral sentiments
  4. Custom and practice


c. Moral sentiments

3. What was the name of the first strategy journal?

  1. Strategic Organization
  2. Organization Studies
  3. Monthly Planning Review
  4. Long Range Planning


d. Long Range Planning

4. Jensen and Meckling made what theory popular in corporate circles?

  1. Contingency theory
  2. Agency theory
  3. Social theory
  4. None of the above


b. Agency theory

5. Your textbook says of the ‘patchwork quilt’ of strategy theories that they are ____________.

  1. Devices that help induce empirical states of affairs that correspond to their theoretical objects
  2. Rational accounts that correspond to objective realities
  3. Too abstract to be of much practical use
  4. All of the above


a. Devices that help induce empirical states of affairs that correspond to their theoretical objects

6. According to your textbook, strategy is an essential part of any serious senior managers’ ___________.

  1. Tool box
  2. Locker
  3. Lunch box
  4. Repertoire


d. Repertoire

7. The antithesis of Keynesianism is _______________.

  1. Neo-economic liberalism
  2. Marxist economics
  3. Autarchy
  4. None of the above


a. Neo-economic liberalism

8. The number of American companies listed on the stock market dropped by what percentage between 1996 and 2012?

  1. 25%
  2. 10%
  3. 50%
  4. 5%


c. 50%

9. The upshot of the political and economic changes that occurred from 1980 onwards was a significant shift in the ________ share of the economy.

  1. Wages/profit
  2. Corporate/non-profit
  3. Dynamic/static
  4. Market/non-market


a. Wages/profit

10. Research by Davis and Mishel showed that CEO compensation (inflation-adjusted) increased by what percentage between 1978 and 2013?

  1. 37%
  2. 337%
  3. 637%
  4. 937%


d. 937%