Exam 2: National Differences in Political Economy

A nation's legal system is usually of very little interest to international business managers, because international businesses are headquartered in different countries.

An economy in which the interaction of supply and demand determines the quantity in which goods and services are produced is called a ____.

Design and names by which merchants or manufacturers designate and differentiate their products are known as ____.

Plato, to whom the advocacy of collectivism is traced back, did not equate collectivism with equality.

Patents, copyrights, and trademarks establish ownership rights over intellectual property.

A civil law system tends to be less adversarial than a common law system because ____.

The number of command economies has fallen dramatically since the demise of communism in the late 1980s.

Most modern democratic states practice representative democracy.

Which of the following provides exclusive legal rights to authors, composers, playwrights, artists, and publishers to publish and disperse their work as they see fit?

It is possible to have a democratic political system that emphasizes a mix of collectivism and individualism.

Antitrust laws in the United States are designed to:

Peoples' right to protest on issues of accountability in public expenditure would be possible in a _____ political set-up.

Discuss the key factors that companies must be aware of before deciding to do business in other countries.

What is the United Nations Convention on Contracts for the International Sale of Goods (CIGS)?

_____ is the collective term for the legal rights relating to the use to which a resource is put and over the use made of any income that may be derived from that resource.

Modern socialism has been popularized largely through the work of ____.

A political system that prioritizes the needs of the society over individual freedoms is called ____.

In which of the following economies would the government be most likely to take into state ownership troubled firms whose continued operation is thought to be vital to national interests?

A _____ grants the inventor of a new product or process exclusive rights for a defined period of time to the manufacture, use, or sale of that invention.

Common law is primarily a moral rather than a commercial law and is intended to govern all aspects of life.