Eng_managem 2 - 1 This question concerns non-zero sum games...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1. This question concerns non-zero sum games: a. A non-zero sum game is one where the Nash Equilibrium point is never reached. b. Non-zero sum games allow for cooperation, ie there are moves that benefit both players. c. A non-zero sum game is a simple win lose game such that there is a winner and loser. d. Non-zero sum games are not suitable for achieving the Nash Equilibrium since the equilibrium can only be achieved at a zero-sum point. 2. Regarding the Nash Equilibrium which one of the following statements is a true statement? a. There can be only one equilibrium point in any single game. b. By definition, if there is a Nash Equilibrium point then this point is always the dominant strategy. c. A game can result in there being no dominant strategy. d. A dominant strategy will only occur in a zero-sum game. 3. A simple legally binding contract comprises: a. An offer and an acceptance. b. An offer and an acceptance with signatures under seal. c. An offer, an acceptance and a consideration. d. An offer, an acceptance, a consideration and legal terms and conditions agreed by the courts. 4. Civil law has two main elements: the law of contract and the law of tort . The law of tort: a. Seeks to regulate the agreed, formal relationship between people. b. Covers financial rules relating to payment and debt. c. Is concerned with conditions of employment. d. Imposes a duty of care not to infringe the rights of people, even those with whom we do not have a formal relationship. 5. Which of the following is not true regarding English Law:
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
6. Which of the following statements best describes a ‘consideration’?
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern