Exam 3: Political Economy and Ethics

In a totalitarian system,rulers tightly control people's lives and do not tolerate opposing viewpoints.

Trademark protection typically lasts indefinitely,provided the word or symbol continues to be distinctive.

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

________ is the layer of corporate social responsibility whereby a company develops a code of conduct that it will follow in its global operations and agrees to operate with greater transparency.

Totalitarianism is a political ideology that typically involves constant indoctrination of the population by agents of the government to eliminate dissent.

Compare and contrast the world's three main political ideologies: anarchism,totalitarianism,and pluralism.

Pluralism is a political system in which political leaders rely on military and bureaucratic power.

In a market economy,the patterns of resource allocation are most directly influenced by ________.

Pluralistic political systems include democracies,constitutional monarchies,and some aristocracies.

Explain the purpose of antitrust laws.How would the Friedman philosophy of corporate social responsibility most likely support a decision by a company to expand internationally into a country with weak antitrust laws? Include a description of the Friedman philosophy in your answer.

Which of the following is an advantage of conducting business in totalitarian nations?

Expropriation is best defined as the ________.

A value-added tax is a tax levied on each party that adds value to a product throughout its production and distribution.

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

Democracies try to preserve peaceful coexistence among groups of people with diverse cultural,ethnic,and racial backgrounds.These rights are known as ________ rights.

Which of the following statements about representative democracies is true?

Renzi belongs to a country in which religion governs all aspects of his life,whether personal or public.He has to abide by a strict,rigid,code that dictates everything from the clothes he wears to the food he eats.Breaking away from these traditions is not an option since religion plays an important role in the functioning of the nation.What political system prevails in his country?

Product liability laws hold only manufacturers responsible for damage,injury,or death caused by defective products.

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

Corporate social responsibility is the practice of going beyond legal obligations to actively balance commitments to investors,customers,other companies,and communities.