Exam 3: The Political and Legal Environments Facing Business

The principle that an individual has the freedom to pursue his or her interests is called ________.

A political ideology is the collection of ideas that expresses the goals,theories,and aims that constitute a sociopolitical program.

In a practical sense,the term political system is meant to signify the ________.

Laws on local business activities directly influence the operations of domestic and foreign companies in areas such as hiring and firing workers.

The distinguishing feature of political ideologies along the political spectrum is ________,with some emphasizing its primacy and others opposing it.

Which of the following statements referring to intellectual property rights and violations is INCORRECT?

Which of the following was a notable trend in political systems during the second half of the 20th century and beginning of the 21st century?

A ________ law system is based on a systematic and extensive codification of laws and puts political officials in charge of specifying accessible,detailed,and written law that applies to all citizens.

In a country that emphasizes collectivism,________.

Multilateral development banks encourage development in risky environments through financial incentives.

The International Anti-Counterfeiting Coalition estimates that international trade in counterfeit products runs less than 5 percent of the value of total world trade.

Countries often use local content regulations to determine the proportion of the product that must be made in the local market versus made outside of the local market in order to ________.

What is the difference between individualism and collectivism? What is the relationship between government and business under each orientation?

Proponents of ________ argue that individual interests are not as important as the welfare of the group.

Which of the following countries has an individualistic orientation?

Although there are different views about the purpose of a political system,most analysts agree that an essential task of a political system is to ________.

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

The vigor of IPR protection is highly related to a country's stage of ________.

A(n)________ ideology is the system of ideas that expresses the goals,theories,and aims of how society should work.

Identify the three common components of modern legal systems and explain their relevance to managers.