Exam 2: National Differences in Political Economy, and Legal Systems

The communists believed that socialism could be achieved by democratic means,and turned their backs on violent revolution and dictatorship.

In a command economy,enterprises have little incentive to control costs and be efficient,because they cannot go out of business.

Totalitarianism:

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

Discuss the different ways to protect intellectual property.

Why do command economies tend to stagnate?

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

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.

What is private action?

The social democrats believed that socialism could be achieved only through violent revolution and totalitarian dictatorship.

When law courts interpret common law,they do so with regard to tradition,precedent,and custom.

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

The ________ believed that socialism could be achieved only through violent revolution and totalitarian dictatorship.

The political systems of a country raise ethical issues that have implications for the practice of international business.

A civil law system tends to be less adversarial than a common law system,since _____.

What are the factors that contribute to the attractiveness of a country as a market or investment site?

What is product liability?

Antitrust laws in the United States are designed to:

Judges in a common law system have the power to interpret the law so that it applies to the unique circumstances of an individual case.

Property rights can be violated in two ways-through private action and through public action.