Exam 3: Politics, Law, and Business Ethics

The segment of the economic environment comprising independently owned firms that exist to make a profit is called the ________.

Which of the following include freedom of speech, freedom to organize political parties, and the right to a fair trial?

________ participation occurs when few people participate in the political process.

Terrorism always has silent approval from the local population.

A nation's legal system is influenced by a wide variety of variables except cultural variables such as class and religion.

Which of the following is designed to preserve peaceful coexistence among groups of people with diverse cultural, ethnic, and racial backgrounds?

Civil law can be more adversarial than common law because civil law relies more on the need to interpret laws according to tradition, precedent, and usage.

Describe the various sources of political risk. Provide an example of each form.

Totalitarian governments tend to share three features: imposed authority, constitutional guarantees for citizens, and total participation.

Personal behavior in accordance with rules or standards for right conduct or morality is called ________.

In ________, bureaucrats tend to implement decisions according to their own political views rather than those of the people's representatives.

A ________ is a right granted to the inventor of a product or process that excludes others from making, using, or selling the invention.

________ is the policy of hiring people to represent a company's views on political matters.

________ is the belief that every aspect of people's lives must be controlled for a nation's political system to be effective.

________ asserts that ownership of the means of production belongs in the hands of individuals and private businesses.

The United Nations does not concern itself with issues such as international trade and economic development.

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

A political system in which political leaders rely on military and bureaucratic power is called ________.

Briefly explain each of the three main methods companies use to manage political risk.

The Nike "Swoosh" is a ________.