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International Business Ch. 2: National Differences in Political, Legal and Economic Systems
Terms in this set (67)
The term ______ is used to stress that the political, economic, and legal systems of a country are connected.
Which of the following statements about political systems is TRUE?
Typically, political systems that place a high emphasis on individualism tend to be democratic.
______ refers to a political system that values the needs of society over that of an individual.
Which Greek philosopher is credited with advocating the origins of collectivism?
What is an accurate depiction of Karl Marx's arguments on socialism?
Capitalists take the value created by workers for their own use.
What three systems make up the political economy of a country?
legal, economic and political systems
What statement characterizes social democrats?
They believed in achieving socialism through non-violent means.
The system of government in a nation is called the ______ system.
Collectivism refers to a political system that
restricts an individual's right to do something on the grounds that it runs counter to the "good of society".
______ refers to the process of selling state-owned enterprises to private investors.
Plato would have agreed that society should be stratified into classes and ______ were best suited to rule society.
philosophers and soldiers
______ refers to a philosophy that promotes the free exercise of one's goals and desires in economic and political pursuits.
T/F: According to Karl Marx, the pay of workers in a capitalist society reflects the full value of their labor.
In the early 20th century, communists differed from social democrats in that communists believed in
strategy of revolutionary action
Aristotle (384- 322 BC) argued in favor of individualism by noting that
diversity and private ownership are beneficial to society
T/F: History shows that state ownership of the means of production never ran counter to the public interest.
According to individualism, economic interests should be dictated by _____.
If you needed to describe the concept of individualism, you would say that individualism
stresses that the interests of the people are more important than the interests of the state
______ refers to a political system in which the citizens exercise power directly or elect representatives to form a governing body.
According to Aristotle's philosophy on individualism,
private property receives greater care compared to communal property
In a(n) ______ democracy, elected representatives represent the citizens and make decisions on behalf of the electorate.
What does individualism emphasize?
the importance of guaranteeing one's freedom and sel-expression
To guarantee that elected representatives can be held accountable for their actions by the electorate, an ideal representative democracy has a number of safeguards. What is one of those safeguards?
universal adult suffrage
What statement BEST describes a totalitarian system?
it is a form of government in which the state recognizes no limits to its authority and strives to regulate all aspects of public and private life.
A country under totalitarian rule would experience which situations?
-denial of civil liberties
Based on the political party beliefs of the governments of China and North Korea, these countries practice ______ totalitarianism.
Kent needs to describe theocratic totalitarianism to his classmates. Which of these statements should he use?
It is a political system in which rulers govern based on religious rules and principles.
Carrie's professor asked her to describe democracy. Which of these statements should she use?
the pure form of democracy believes that laws and policies should be made directly by citizens
Which countries have experienced tribal totalitarianism rule?
What condition must be present to create an ideal representative democracy?
a nonpolitical state bureaucracy
_____ often back(s) right-wing totalitarianism governments.
In a totalitarian country, you would find that
the ruler's decisions are not questioned by individuals
What are the three broad types of economic systems?
T/F: Communism is in decline worldwide
In a pure market economy, production of goods is determined by
the interaction of supply and demand
A country that is ruled based on theocratic totalitarianism is governed based on
______ totalitarianism occurs when a political party that represents the interests of a particular tribe monopolizes power.
What is the objective of a pure command economy?
allotment of resources for the overall god of society
What statement BEST defines right-wing totalitarianism?
it restricts political freedom, frequently on the grounds that it would lead to the rise of communism, but does allow some economic freedom
In a ______ economy, both private enterprise and some state monopoly co-exist.
True or False: Unlike the economic system of a country, the legal system is NOT influenced by the prevailing political system.
In a pure ______ economy, all productive activities are owned privately -- not by the state.
A country that bases its laws on the traditions within the country's legal history operates under a _____ law legal system.
In a common law system, ______ refers to cases that have come before the courts in the past.
A government plans the quantity of goods and services produced as well as the prices at which they are sold in a pure ____________ economy
Which statement accurately describes a civil law system?
unlike a common law system, a civil law system relies on detailed codes, and therefore, can be less adversarial
During the economic downturn of 2008-2009, the U.S. government "bailed out" AIG to prevent that financial institution from collapsing because it felt that if AIG collapsed, it would lead to serious consequences for the entire U.S. financial system. By helping out this troubled firm because it appeared vital to national interests, the U.S. government was acting as a ____ economy.
The ______ system of a country refers to the rules, or laws, that regulate behavior along with the system that enforces them.
In a theocratic law system, the law is based on
If you were asked to provide a fact about a common law system, what should you say?
a common law system has a degree of flexibility that other legal systems lack
When discussing a common law system, a country's legal history is known as ______.
Michael wrote a screenplay and he is traveling to Los Angeles next week to pitch his idea to a movie studio. The screenplay is an example of _____ property.
A _____ law system is based on a detailed set of laws organized into codes.
Peter, a research associate at a biotechnology firm, develops a diagnostic kit for the rapid detection of malaria. In order to prevent his competitors from duplicating his invention, Peter should apply for a
The most widely practiced theocratic legal system in the modern world is ______ law.
A(n) ______ is a recognizable sign, design or name, often officially registered, that identifies products or services from a particular source.
Which one of these individuals should apply for a copyright?
Jude, a musician who is composing his maiden album
______ property refers to property such as a screenplay, a music score, or the chemical formula for a new drug.
What is an accurate description of intellectual property laws?
intellectual property laws reward creativity and provide an incentive for people to search for novel ways of doing things
A ______ grants an inventor exclusive rights for a defined period to the manufacture, use, or sale of his or her invention.
The members of the World Intellectual Property Organization have signed international treaties designed to protect intellectual property, including the oldest such treaty known as the ______, which dates to 1883.
Paris Convention for the Protection of Industrial Property
Compared to the United States, the piracy of computer software is _____ in China.
Which of these intellectual property protections should Juliet, the CEO of a fast food restaurant chain, apply for to prevent competitors from copying her restaurant logo?
A ______ refers to a legal right that enables the creator of an original work the right to publish and distribute their work as they see fit.
True or false: Patents provide a reassurance for companies to pursue extensive research projects.
When considering how intellectual property rights are viewed around the world, it can be said that
they are subjected to various forms or protection from country to country
Lax enforcement of intellectual property rights in the computer software industry has lead to stealing of software applications. This illegal process is also known as
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