Question 1

How does a common law system differ from a civil law system?

Accepted Answer

A common law system has a degree of flex...

Question 2

A legal system which is based primarily on religious teachings is referred to as a

Accepted Answer

A)  civil law system.
B)  theocratic law system.
C)  common law system.
D)  precedent law system.
E)  public law system.F) A) and B)
G) B) and D)

Question 3

The governments of China,Vietnam,and Laos are communist in name only because those nations have adopted wide-ranging,market-based economic reforms.

Accepted Answer

A) True 
 B)False

Question 4

Product safety and product liability laws are enforced to protect

Accepted Answer

A)  intellectual property rights.
B)  companies from their domestic competitors.
C)  companies from their foreign competitors.
D)  consumers.
E)  product inventors.F) A) and D)
G) A) and C)

Question 5

In a pure command economy,the goods and services that a country produces,the quantity in which they are produced,and the prices at which they are sold are all dictated by the interaction of demand and supply.

Accepted Answer

A) True 
 B)False

Question 6

The Republic of Marwa has decided to open its economy to globalization.Which of the following will facilitate this decision of Marwa?

Accepted Answer

A)  strong commitment to communism
B)  strong presence of private action in the nation
C)  adopting the Contracts for the International Sale of Goods (CIGS) 
D)  creating a national environment that promotes public action
E)  breaking the rule of lawF) A) and B)
G) D) and E)

Question 7

In the context of property rights,which of the following refers to theft,piracy,blackmail,and the like by private individuals or groups?

Accepted Answer

A)  private consumption
B)  private practice
C)  privacy tort
D)  private action
E)  privacy violationF) A) and D)
G) B) and D)

Question 8

Discuss why command economies tend to stagnate.

Accepted Answer

While the objective of a command economy is to mobilize economic resources for the public good,the opposite seems to have occurred.In a command economy,state-owned enterprises have little incentive to control costs and be efficient,because they cannot go out of business.Also,the abolition of private ownership means there is no incentive for individuals to look for better ways to serve consumer needs; hence,dynamism and innovation are absent from command economies.Instead of growing and becoming more prosperous,such economies tend to stagnate.

Question 9

Which of the following is most likely to be protected by a copyright?

Accepted Answer

A)  new manufacturing process invented in a company
B)  newly invented telecommunication device
C)  tangible property like land and building
D)  movies produced and directed by a person
E)  new type of car invented by an automobile companyF) A) and D)
G) A) and C) D

Question 10

Which of the following is a typical function of a trademark?

Accepted Answer

A)  It marks the sales territory for which individual salespeople are assigned.
B)  It restrains authors,composers,playwrights,artists,and publishers from trading their creative work.
C)  It signifies that a country is a member of the World Trade Organization.
D)  It acts as a permit to expand a business globally.
E)  It allows merchants or manufacturers to designate and differentiate their products.F) C) and D)
G) B) and D)

Question 11

Which of the following statements is true about political systems?

Accepted Answer

A)  The political system of a country is independent of its economic and legal systems.
B)  The political system of a country is of no importance to international business.
C)  It is not possible to have democratic societies that emphasize a mix of collectivism and individualism.
D)  It is possible to have totalitarian societies that are not collectivist.
E)  The societal culture of a country does not influence its political system.F) B) and C)
G) A) and B)

Question 12

By adopting the Contracts for the International Sale of Goods (CIGS),a nation signals to other adopters that it will treat the convention's rules as part of its law.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

Discuss why supply must not be restricted for a pure market economy to function.

Accepted Answer

In a pure market economy,supply must not...

Question 15

What are grease payments? Are they acceptable by the U.S.law and OECD convention?

Accepted Answer

Grease payments are facilitating or expe...

Question 16

Which of the following refers to an economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced?

Accepted Answer

A)  barter
B)  command
C)  market
D)  regulated
E)  centrally plannedF) A) and B)
G) C) and D) C

Question 17

In the United States,the Foreign Corrupt Practices Act was passed during the 1970s following revelations that

Accepted Answer

A)  U.S.companies had bribed government officials in foreign countries in an attempt to win lucrative contracts.
B)  U.S.companies were involved in bribing U.S.government officials in cases related to major corporate and accounting scandals.
C)  U.S.government bureaucrats demanded bribes from U.S.companies in return for a permit to operate in a foreign country.
D)  several companies were selling their products at lower prices in foreign countries than in the United States.
E)  successful business owners in the United States often had to pay "protection money" to the Mafia or face violent retribution.F) B) and E)
G) B) and D)

Question 18

After the collapse of communism in Dehran,successful business owners often had to pay "protection money" to the mafia or face violent retribution.In the context of property rights,the behavior of the mafia is an example of

Accepted Answer

A)  active violation.
B)  public action.
C)  private action.
D)  boundary spanning.
E)  industrial espionage.F) A) and D)
G) B) and D)

Question 19

Which of the following applies to most totalitarian states?

Accepted Answer

A)  Free and fair elections are not denied to the citizens.
B)  There is free access to state information.
C)  All the basic civil liberties are granted to the citizens.
D)  The right to freedom of expression and organization is not curbed.
E)  Media are heavily censored.F) A) and B)
G) C) and E)

Question 20

The Cedian government believes that its citizens should have complete freedom in their economic and political pursuits,and the Cedian ideology is "private profit over public good." In this context,it can be said that Cedia most likely follows the philosophy of

Accepted Answer

A)  totalitarianism.
B)  socialism.
C)  individualism.
D)  communism.
E)  Marxism.F) B) and E)
G) A) and B)

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

How does a common law system differ from a civil law system?

Correct Answer
verified
A common law system has a degree of flex...
View Answer

A legal system which is based primarily on religious teachings is referred to as a

Correct Answer
verified

The governments of China,Vietnam,and Laos are communist in name only because those nations have adopted wide-ranging,market-based economic reforms.

Correct Answer
verified

Product safety and product liability laws are enforced to protect

Correct Answer
verified

In a pure command economy,the goods and services that a country produces,the quantity in which they are produced,and the prices at which they are sold are all dictated by the interaction of demand and supply.

Correct Answer
verified

The Republic of Marwa has decided to open its economy to globalization.Which of the following will facilitate this decision of Marwa?

Correct Answer
verified

In the context of property rights,which of the following refers to theft,piracy,blackmail,and the like by private individuals or groups?

Correct Answer
verified

Discuss why command economies tend to stagnate.

Which of the following is most likely to be protected by a copyright?

Correct Answer
verified
D

Which of the following is a typical function of a trademark?

Correct Answer
verified

Which of the following statements is true about political systems?

Correct Answer
verified

By adopting the Contracts for the International Sale of Goods (CIGS),a nation signals to other adopters that it will treat the convention's rules as part of its law.

Correct Answer
verified

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

Correct Answer
verified

Discuss why supply must not be restricted for a pure market economy to function.

Correct Answer
verified
In a pure market economy,supply must not...
View Answer

What are grease payments? Are they acceptable by the U.S.law and OECD convention?

Correct Answer
verified
Grease payments are facilitating or expe...
View Answer

Which of the following refers to an economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced?

Correct Answer
verified
C

In the United States,the Foreign Corrupt Practices Act was passed during the 1970s following revelations that

Correct Answer
verified

After the collapse of communism in Dehran,successful business owners often had to pay "protection money" to the mafia or face violent retribution.In the context of property rights,the behavior of the mafia is an example of

Correct Answer
verified

Which of the following applies to most totalitarian states?

Correct Answer
verified

The Cedian government believes that its citizens should have complete freedom in their economic and political pursuits,and the Cedian ideology is "private profit over public good." In this context,it can be said that Cedia most likely follows the philosophy of

Correct Answer
verified

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

How does a common law system differ from a civil law system?

Correct AnswerverifiedA common law system has a degree of flex...View AnswerShow Answer

A legal system which is based primarily on religious teachings is referred to as a

Correct AnswerverifiedShow Answer

The governments of China,Vietnam,and Laos are communist in name only because those nations have adopted wide-ranging,market-based economic reforms.

Correct AnswerverifiedShow Answer

Product safety and product liability laws are enforced to protect

Correct AnswerverifiedShow Answer

In a pure command economy,the goods and services that a country produces,the quantity in which they are produced,and the prices at which they are sold are all dictated by the interaction of demand and supply.

Correct AnswerverifiedShow Answer

The Republic of Marwa has decided to open its economy to globalization.Which of the following will facilitate this decision of Marwa?

Correct AnswerverifiedShow Answer

In the context of property rights,which of the following refers to theft,piracy,blackmail,and the like by private individuals or groups?

Correct AnswerverifiedShow Answer

Discuss why command economies tend to stagnate.

Which of the following is most likely to be protected by a copyright?

Correct AnswerverifiedD

Which of the following is a typical function of a trademark?

Correct AnswerverifiedShow Answer

Which of the following statements is true about political systems?

Correct AnswerverifiedShow Answer

By adopting the Contracts for the International Sale of Goods (CIGS),a nation signals to other adopters that it will treat the convention's rules as part of its law.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Discuss why supply must not be restricted for a pure market economy to function.

Correct AnswerverifiedIn a pure market economy,supply must not...View AnswerShow Answer

What are grease payments? Are they acceptable by the U.S.law and OECD convention?

Correct AnswerverifiedGrease payments are facilitating or expe...View AnswerShow Answer

Which of the following refers to an economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced?

Correct AnswerverifiedC

In the United States,the Foreign Corrupt Practices Act was passed during the 1970s following revelations that

Correct AnswerverifiedShow Answer

After the collapse of communism in Dehran,successful business owners often had to pay "protection money" to the mafia or face violent retribution.In the context of property rights,the behavior of the mafia is an example of

Correct AnswerverifiedShow Answer

Which of the following applies to most totalitarian states?

Correct AnswerverifiedShow Answer

The Cedian government believes that its citizens should have complete freedom in their economic and political pursuits,and the Cedian ideology is "private profit over public good." In this context,it can be said that Cedia most likely follows the philosophy of

Correct AnswerverifiedShow Answer

Correct Answer
verified
A common law system has a degree of flex...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
D

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
In a pure market economy,supply must not...
View Answer

Correct Answer
verified
Grease payments are facilitating or expe...
View Answer

Correct Answer
verified
C

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified