5 Written questions
5 Matching questions
- What are the three prevalent economic systems?
- What are the two ways that property rights can be violated?
- What is the fault with CIGS?
- True or False. The approach to contract law demonstrates the difference between common law and civil law systems
- What is collectivism?
- a 1. private action
2. public action
- b True
- c 1. market economy
2. command economy
3. mixed economy
- d Not many countries have ratified the convention only 70
- e a political system that emphasizes collective goals over individual goals (plato)
5 Multiple choice questions
- United Convention on Contracts for the International sale of Goods is a set rules governing certain aspects of the making and performance of commercial contracts between sellers and buyers who have their places of business in different nations
- the means by which socialism is achieved e.g. democratic vs. violent and totalitarian
- the bundle of legal rights over the use to which a resource is put and over the use made of any income that me be derived from that resource
- 1. democratic or totalitarian
2. collectivism or individualism
5 True/False questions
What is totalitarianism? → Form of government in which one person or political party exercises absolute control over all spheres of human life and prohibits opposing political parties
What are three categories demonstrated → Not many countries have ratified the convention only 70
The spread of of market based systems entails what characteristics? → 1. deregulation
3. Legal system to safeguard property rights
What is public action? → the extortion of income or resources of property holders by public officials such as politicians and government bureaucrats
What is deregulation? → removal of government restrictions conceding the conduct of business such price control allowing for free market play, abolishing laws concerning private enterprises and their operations, and removing restrictions on FDI and international trade