Exam 6: Politics and Law

A(n)__________ refers to an organized effort to refrain from conducting business with a particular country of origin or seller of goods or services.

Business risk refers to the potential of loss by an international corporation of assets,earning power,or managerial control as a result of political actions by the host country.

________ is the ability of a firm,an industry,or a country to compete in the international marketplace at a stable or rising standard of living.

The __________ is an agreement that outlines procedures for filing one international patent application rather than filing numerous individual national applications.

_________ law is based on tradition that depends more on precedent than on written statutes.

Describe the different types of legal systems that exist today and provide examples. Which are most common?

Due to heightened political unrest,the government in Sally's home country has recently developed a "black list" of items not to be purchased from a neighboring country. Sally can best describe this action as imposing a(n):

Critics in the United States argue that the passage of minimum-wage legislation has resulted in reduced U.S.international competitiveness. This example demonstrates that:

A(n)_________ is a government action,usually consisting of a specific measure that distorts the free flow of trade for an adversarial or political purpose rather than an economic one.

________ is the procedure for settling a dispute in which an objective third party hears both sides and makes a decision.

__________ risk involves the danger of interference by governments or other groups in one's corporate operations abroad.

_________ are designed to deny or at least delay the acquisition of strategically important goods to adversaries.

In most Islamic nations,society is ruled by the Sharia,or Islamic law. This exemplifies what type of legal system?

The United States has banned all trade with Cuba,with the exception of humanitarian activities. This is an example of a(n):

__________ risk refers to the danger of interference by governments or other groups in one's corporate operations abroad.

Describe the differences between embargoes and sanctions and provide examples.

Arthur is a U.S.city mayor who has recently been accused of accepting payment to support local natural gas drilling. Such an act can best be described as:

_________ is the government takeover of a company with compensation frequently at a lower level than the investment value of the company's assets.

Domestication is the government demand for partial transfer of ownership and management responsibility from a foreign company to local entities,with or without compensation.

The body of rules governing relationships between sovereign states is called: