Exam 3: Politics, Law, and Business Ethics

Pluralism is the belief that only individuals and private groups should control a nation's political activities.

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

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

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 finally settles upon Valmira because it has a stable business environment.Which of the following factors,if true,proves her decision to be a good one?

Which of the following do governments impose upon people to help pay for the consequences of using a particular product?

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

Both Pat and Terry believe 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.Which of the following statements proves that Pat is a communist and Terry is a socialist?

Expropriation involves the forced transfer of assets from a company to the government without compensation.

When a country's religious leaders are also its political leaders,its political system is called a theocracy.

________ refers to the takeover of an entire industry by the government.

A ________ is a political system in which a country's religious leaders serve as its political leaders.

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

Scenario: Risky Business Global Trading LLC is a distributor of computer software and hardware,steel and copper scrap,and telephone equipment.Involved in three very different types of industries,the company faces many types of risks in its global business. -Global Trading just learned that the government of one country in which it does business has taken over the entire electric utility industry.The government's actions are an example of ________.

Which of the following is a disadvantage of conducting business in totalitarian nations?

The segment of the economic environment comprising independently owned firms that seek to earn profits is called the ________.

Which of the following terms refers to an economic system in which the government owns and controls all types of economic activity?

Which of the following is a characteristic of totalitarian governments?

A legal tradition based on religious teachings is called ________ law.

Which of the following philosophies maintains that a company's sole responsibility is to maximize profits for its owners?

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.