Question 1

Compare and contrast the four forms of totalitarianism.

Accepted Answer

The answer of Compare and contrast the four forms of...

Question 2

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

Accepted Answer

The answer of Discuss the key factors that companies must...

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

In common law, ________ refers to cases that have come before the courts in the past.

Accepted Answer

A)  custom 
B)  precedent 
C)  codification 
D)  tradition

Question 5

The central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.

Accepted Answer

A) True 
 B)False

Question 6

Company Zee has been found guilty of manufacturing a product that caused harm to its users, violating criminal liability laws. Which of the following is the most likely outcome for Company Zee?

Accepted Answer

A)  payment and monetary damages 
B)  more severe punishment if Company Zee is outside the United States 
C)  fines or imprisonment 
D)  nothing if it was Company Zee's first offense

Question 7

Discuss the ways in which public action to violate property rights can occur.

Accepted Answer

The answer of Discuss the ways in which public action...

Question 8

Discuss the effects of private ownership of production in a market economy.

Accepted Answer

The answer of Discuss the effects of private ownership of...

Question 9

One key component of a country's legal system is

Accepted Answer

A)  establishing a mixed economy. 
B)  taking a hands-off approach to business practices. 
C)  defining the rights and obligations of those involved in business transactions. 
D)  leaving the monitoring of the way business transactions are executed to the United Nations.

Question 10

Private action refers to

Accepted Answer

A)  public officials extorting income, resources, or the property itself from property holders. 
B)  bribing government officials in foreign countries in an attempt to win lucrative contracts. 
C)  theft, piracy, blackmail, and the like by private individuals or groups. 
D)  violations of intellectual property rights.

Question 11

Discuss why there is inefficiency in a monopoly situation. What is the role of the government in such a situation?

Accepted Answer

The answer of Discuss why there is inefficiency in a...

Question 12

The tenet of ________ is that the welfare of society is best served by letting people pursue their own economic self-interest.

Accepted Answer

A)  socialism 
B)  communism 
C)  anarchism 
D)  individualism

Question 13

Why did Karl Marx criticize capitalism? Describe how he planned to correct those shortcomings.

Accepted Answer

The answer of Why did Karl Marx criticize capitalism? Describe...

Question 14

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.

Accepted Answer

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

Question 15

People's right to protest on issues of accountability in public expenditure would be possible in a ________ political setup.

Accepted Answer

A)  dictatorial 
B)  democratic 
C)  totalitarian 
D)  fascist

Question 16

Plato ________; he believed that society should be stratified into classes, with those best suited to rule administering society for the benefit of all.

Accepted Answer

A)  equated individualism with equality 
B)  equated collectivism with equality 
C)  promoted representative democracy 
D)  did not equate collectivism with equality

Question 17

Democracy is a form of government that prohibits opposing political parties.

Accepted Answer

A) True 
 B)False

Question 18

The parties to an agreement normally resort to contract law when one party feels the other has violated either the letter or the spirit of an agreement.

Accepted Answer

A) True 
 B)False

Question 19

Totalitarianism

Accepted Answer

A)  refers to a political system in which government is by the people, exercised either directly or through elected representatives. 
B)  is based on a belief that citizens should be directly involved in decision making. 
C)  is a form of government in which one person or political party exercises absolute control over all spheres of human life. 
D)  is based on the idea that the welfare of society is best served by letting people pursue their own economic self-interests.

Question 20

Designs and names by which merchants or manufacturers designate and differentiate their products are known as

Accepted Answer

A)  trademarks. 
B)  copyrights. 
C)  patents. 
D)  licenses.

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

Compare and contrast the four forms of totalitarianism.

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

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

In common law, ________ refers to cases that have come before the courts in the past.

The central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.

Company Zee has been found guilty of manufacturing a product that caused harm to its users, violating criminal liability laws. Which of the following is the most likely outcome for Company Zee?

Discuss the ways in which public action to violate property rights can occur.

Discuss the effects of private ownership of production in a market economy.

One key component of a country's legal system is

Private action refers to

Discuss why there is inefficiency in a monopoly situation. What is the role of the government in such a situation?

The tenet of ________ is that the welfare of society is best served by letting people pursue their own economic self-interest.

Why did Karl Marx criticize capitalism? Describe how he planned to correct those shortcomings.

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.

People's right to protest on issues of accountability in public expenditure would be possible in a ________ political setup.

Plato ________; he believed that society should be stratified into classes, with those best suited to rule administering society for the benefit of all.

Democracy is a form of government that prohibits opposing political parties.

The parties to an agreement normally resort to contract law when one party feels the other has violated either the letter or the spirit of an agreement.

Totalitarianism

Designs and names by which merchants or manufacturers designate and differentiate their products are known as