Exam 3: Political Economy and Ethics

A common law system is based on tradition,judge-made precedent,and usage in which the courts assign a preeminent position to existing case law to guide dispute resolution.

Scenario: Stephanie Wong Stephanie Wong, a Chinese-American, owns a consultancy that advises clients on strategies for business expansions into China. Wong is to lead a symposium for small and mid-sized exporters who are planning on expanding their businesses in China. Therefore, she is preparing answers in advance for questions that symposium participants would most likely ask. -Which of the following statements is true of Kirawi,a democratic nation whose legal system is based on common law?

Describe the three main types of economic systems.

Product liability laws are those which ________.

Scenario: Susan Goes Global with Grape Fizz Susan is the CEO of Grape Fizz, a global drinks-manufacturing company. She wishes to set up production facilities in other countries and has been advised to assess the political system of each country before she does so. -Susan thinks that it would be easiest setting up production facilities in a country whose government leaders are elected directly by the wide participation of the people or by their representatives.Which of the following political systems should the country have?

________ is a political system in which political leaders rely on military and bureaucratic power to support their rule.

Scenario: Stephanie Wong Stephanie Wong, a Chinese-American, owns a consultancy that advises clients on strategies for business expansions into China. Wong is to lead a symposium for small and mid-sized exporters who are planning on expanding their businesses in China. Therefore, she is preparing answers in advance for questions that symposium participants would most likely ask. -Which of the following factors should the legal experts of Wayne's consider while evaluating the legal systems of Paribo and Kirawi?

Robert believes that social and economic equality can be obtained only by establishing an economic system in which the government owns and controls all types of economic activity.However,he does not think of himself as a communist,but as a socialist.Which of the following statements about Robert is true?

Pluralism is the the belief that both private and public groups play important roles in a nation's political activities.

In a command economy,the goods and services that a country produces,the quantity in which they are produced,and the prices at which they are sold are planned by ________.

In a coalition government,the strongest political parties share power by dividing government responsibilities among themselves.

The ________ view states that a company should adopt local ethics wherever it operates because all belief systems are determined within a cultural context.

________ is the environmental impact of greenhouse gases (measured in units of carbon dioxide)that results from human activity.

Anarchism is the belief that every aspect of people's lives must not be controlled in order for a nation's political system to be effective.

Which of the following is an important factor in forming successful business ventures in China?

________ refers to the transfer of ownership of resources from the private to the public sector.

Which of the following is a characteristic of totalitarian governments?

A political system in which a country's religious leaders are also its political leaders is called a theocracy.

Which of the following philosophies maintains that a company should maximize "good" outcomes and minimize "bad" outcomes wherever it operates?

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