Question 1

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

Accepted Answer

When contract disputes arise in internat

Question 2

Which of the following statements about individualism is NOT true?

Accepted Answer

A)  Individualism promotes private entrepreneurship. 
B)  Individualism promotes free market economics. 
C)  Individualism creates an anti-business environment. 
D)  Individualism advocates for a democratic political system. 
A)  Individualism promotes private entrepreneurship. 
B)  Individualism promotes free market economics. 
C)  Individualism creates an anti-business environment. 
D)  Individualism advocates for a democratic political system.

Question 3

The Research and Development division of a company has recently designed a new coffee vending machine that is likely to sell very well in the market.It is compact,user-friendly,and provides unprecedented efficiency in terms of cost per cup.Consequently,the company fears that its competitors would soon mimic the design of their product and to protect its product,it is now seeking a _____ for the same.

Accepted Answer

A)  copyright 
B)  patent 
C)  trademark 
D)  certification 
A)  copyright 
B)  patent 
C)  trademark 
D)  certification

Question 4

The political,economic,and legal environments of a country influence the attractiveness of that country as a market or investment site.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A)  planned economy 
B)  command economy 
C)  closed economy 
D)  market economy 
A)  planned economy 
B)  command economy 
C)  closed economy 
D)  market economy

Question 6

In the 1970s,the United States passed the Foreign Corrupt Practices Act which requires all publicly traded companies,whether or not they are involved in international trade,to keep detailed records that would reveal whether a violation of the act has occurred.

Accepted Answer

A) True 
 B)False

Question 7

_____ refers to a state where political power is monopolized by a party,group,or individual that governs according to religious principles.

Accepted Answer

A)  Representative democracy 
B)  Theocratic totalitarianism 
C)  Tribal anarchism 
D)  Monotheistic communism 
A)  Representative democracy 
B)  Theocratic totalitarianism 
C)  Tribal anarchism 
D)  Monotheistic communism

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

The Trade Related Aspects of Intellectual Property Rights,attempts to reduce intellectual property protections to enhance trade.

Accepted Answer

A) True 
 B)False

Question 10

Under the _____,cases are judged with reference to three characteristics: tradition,precedent,and custom.

Accepted Answer

A)  theocratic law system 
B)  civil law system 
C)  contract law system 
D)  common law system 
A)  theocratic law system 
B)  civil law system 
C)  contract law system 
D)  common law system

Question 11

Product liability can be much lower if a product does not conform to required safety standards.

Accepted Answer

A) True 
 B)False

Question 12

In a _____ economy,certain sectors of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership and government planning.

Accepted Answer

A)  market 
B)  private 
C)  command 
D)  mixed 
A)  market 
B)  private 
C)  command 
D)  mixed

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

Compare and contrast the four forms of totalitarianism.

Accepted Answer

In a totalitarian country,an individual'

Question 15

Product liability sets certain safety standards to which a product must adhere.

Accepted Answer

A) True 
 B)False

Question 16

In Russia in the chaotic period following the collapse of communism,an outdated legal system,coupled with a weak police force and judicial system,allowed the Russian Mafia to demand "protection money" from business owners.Any business owner who rebelled had to face violent retribution.This violation of property rights exemplifies _____.

Accepted Answer

A)  private action 
B)  copyright violation 
C)  infrastructural failure 
D)  public liability 
A)  private action 
B)  copyright violation 
C)  infrastructural failure 
D)  public liability

Question 17

Which of the following statements about the Trade Related Aspects of Intellectual Property Rights (or TRIPS)agreement is NOT true?

Accepted Answer

A)  It was designed to oversee enforcement of much stricter intellectual property regulations, beginning in 1995. 
B)  It obliged WTO members to grant and enforce patents lasting at least 20 years and copyrights lasting 50 years. 
C)  It directed rich countries to comply with its rules of intellectual property protection within five years. 
D)  It provided the very poorest countries 10 years to comply with its rules of intellectual property protection. 
A)  It was designed to oversee enforcement of much stricter intellectual property regulations, beginning in 1995. 
B)  It obliged WTO members to grant and enforce patents lasting at least 20 years and copyrights lasting 50 years. 
C)  It directed rich countries to comply with its rules of intellectual property protection within five years. 
D)  It provided the very poorest countries 10 years to comply with its rules of intellectual property protection.

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

Which of the following statements about individualism is NOT true?

The political,economic,and legal environments of a country influence the attractiveness of that country as a market or investment site.

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

In the 1970s,the United States passed the Foreign Corrupt Practices Act which requires all publicly traded companies,whether or not they are involved in international trade,to keep detailed records that would reveal whether a violation of the act has occurred.

_____ refers to a state where political power is monopolized by a party,group,or individual that governs according to religious principles.

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

The Trade Related Aspects of Intellectual Property Rights,attempts to reduce intellectual property protections to enhance trade.

Under the _____,cases are judged with reference to three characteristics: tradition,precedent,and custom.

Product liability can be much lower if a product does not conform to required safety standards.

In a _____ economy,certain sectors of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership and government planning.

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

Compare and contrast the four forms of totalitarianism.

Product liability sets certain safety standards to which a product must adhere.

Which of the following statements about the Trade Related Aspects of Intellectual Property Rights (or TRIPS)agreement is NOT true?

Globalization

National Differences in Economic Development

Differences in Culture

Ethics, corporate Social Responsibility, and Sustainability

International Trade Theory

Government Policy and International Trade

Foreign Direct Investment

Regional Trade Pacts Give the Mexican Auto Industry an Edge

The Foreign Exchange Market

The International Monetary System

The Global Capital Market

The Strategy of International Business

The Organization of International Business

Entry Strategy and Strategic Alliances

Exporting, importing, and Countertrade

Global Production and Supply Chain Management

Global Marketing and Rd

Global Human Resource Management

Accounting and Finance in the International Business

Filters

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

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

Which of the following statements about individualism is NOT true?

The political,economic,and legal environments of a country influence the attractiveness of that country as a market or investment site.

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

In the 1970s,the United States passed the Foreign Corrupt Practices Act which requires all publicly traded companies,whether or not they are involved in international trade,to keep detailed records that would reveal whether a violation of the act has occurred.

_____ refers to a state where political power is monopolized by a party,group,or individual that governs according to religious principles.

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

The Trade Related Aspects of Intellectual Property Rights,attempts to reduce intellectual property protections to enhance trade.

Under the _____,cases are judged with reference to three characteristics: tradition,precedent,and custom.

Product liability can be much lower if a product does not conform to required safety standards.

In a _____ economy,certain sectors of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership and government planning.

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

Compare and contrast the four forms of totalitarianism.

Product liability sets certain safety standards to which a product must adhere.

Which of the following statements about the Trade Related Aspects of Intellectual Property Rights (or TRIPS)agreement is NOT true?

Globalization

National Differences in Economic Development

Differences in Culture

Ethics, corporate Social Responsibility, and Sustainability

International Trade Theory

Government Policy and International Trade

Foreign Direct Investment

Regional Trade Pacts Give the Mexican Auto Industry an Edge

The Foreign Exchange Market

The International Monetary System

The Global Capital Market

The Strategy of International Business

The Organization of International Business

Entry Strategy and Strategic Alliances

Exporting, importing, and Countertrade

Global Production and Supply Chain Management

Global Marketing and Rd

Global Human Resource Management

Accounting and Finance in the International Business

Filters