Exam 3: Politics, Law, and Business Ethics

Scenario: Sid Maxwell Sid Maxwell is head of legal affairs for Hudson Inc., a producer of animal figurines that include an embedded software program that makes animal sounds. Hudson is expanding its market to include parts of Asia and Maxwell is concerned about reports of software piracy in the region. -To protect itself against imitators and ensure that customers can easily identify its product, Hudson could register a ________.

Treaties concluded among several nations are called multilateral agreements.

A common law system is based on three factors: tradition, precedent, and ________.

An economic system in which the government owns and controls all types of economic activity is called ________.

What is it called when bureaucrats implement decisions according to their own political views rather than those of the people's representatives?

Because a country's business environment is independent of its political environment, a nation's business environment remains stable when it is in the midst of political change.

A ________ economic system is one in which the government owns and controls all types of economic activity.

The ________ and its many agencies provide food and medical supplies, educational supplies and training, and financial resources to poorer member nations.

Explain each of the following terms, giving examples of each: patent, trademark, and copyright.

A participative democracy combined with free markets and property rights guarantees strong economic growth.

Communists are socialists, but socialists are not necessarily communists.

A political system under the control of totalitarian religious leaders is called ________.

The belief that only individuals and private groups should control a nation's political activities is called ________.

Explain the benefits and drawbacks of a value-added tax.

Scenario: Susan Goes Global with R&R Susan Smith works in marketing at Reconditioned Refrigerators (R&R), a global manufacturing company. Susan knows that to advance into upper management she must gain broader experience and was recently told that she can choose from several locations in which R&R is active for her first international assignment. Susan knows little about other nations, their cultures, and their political systems, so she has embarked on an ambitious research project to make an informed decision. -Susan has learned that R&R does business with countries having religious political systems where religious leaders are the political leaders. She knows that such a system is called a ________.

A ________ is a political system in which government leaders are elected by the wide participation of the people or by their representatives.

________ includes patents and trademarks, which are often considered a firm's most valuable asset.

The belief that both private and public groups play important roles in a nation's political activities is called ________.

Which of the following is NOT a feature of a totalitarian regime?

The Foreign Corrupt Practices Act forbids U.S. companies from ________ government officials or political candidates in other nations.