Chapter 2 National Differences in Political, Economic, and Legal Systems MKT 358

Which of the following systems is a part of the political economy?

Which of the following statements is true about political systems?

The needs of society as a whole are generally viewed as being more important than individual freedoms when the emphasis is on

In the country of Normian Republic, an individual's right to own land is restricted to a large extent on the basis that it runs counter to "the common good." In this context, which of the following is most likely to be the political system adopted by Normian Republic?

A person who believes in public ownership of the means of production for the common good of society is a(n)

Modern socialism traces its intellectual roots to

Which of the following was advocated by Karl Marx?

In the early twentieth century, the socialist ideology split into two broad camps and the people who believed that socialism could be achieved only through violent revolution and totalitarian dictatorship were referred to as

Those who attempt to achieve the same ideologies as that of the communists without violent revolution and totalitarian dictatorship are

Which of the following is inconsistent with Marxist philosophy?

Which of the following is true about communism?

The sale of state-owned enterprises to independent, nonpublic investors is referred to as

Which of the following can be traced to the ancient Greek philosopher Aristotle?

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

In the context of individualism, which of the following is inconsistent with the works of the ancient Greek philosopher Aristotle?

Which of the following is most likely to be advocated by individualism?

In practical terms, which of the following translates into an advocacy for democratic ideals and free market economics, which in general creates the most favorable environment for international businesses to operate in?

Democracy, in its purest form, is based on the belief that

Which of the following is a form of government in which one person or political party exercises absolute control over all spheres of human life and prohibits opposing political parties?

Which of the following is a feature of representative democracy?

Which of the following applies to most totalitarian states?

Which of the following is a form of totalitarianism which advocates that socialism can be achieved only through a totalitarian dictatorship?

States that limit the freedom of religious expression with laws based on religious principles most likely follow the political system of:

In which countries are we likely to find free market economies?

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?

Which of the following statements is most likely to be true regarding private ownership?

In what type of economy are all businesses state owned, the rationale being that the government can then direct them to make investments that are in the best interests of the nation as a whole rather than in the interests of private individuals?

In comparison to market economies, command economies lack

In what type of economy are certain sectors of the economy left to private ownership and free market mechanisms, while in other sectors there is significant state ownership and government planning?

In mixed economies, governments sometimes tend to take into state ownership troubled firms whose continued operation is thought to be vital to national interests. Once a government takes into state ownership such troubled firms, they are said to be

Which of the following legal systems is most likely to be based on tradition, precedent, and custom?

In the context of common law, which of the following terms refers to the ways in which laws are applied in specific situations?

The common law system enjoys a degree of flexibility not found in other systems because

Which of the following is a law system based on a detailed set of laws organized into codes?

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

What is the most widely practiced theocratic legal system in the modern world?

Which of the following is true about the three main types of legal systems?

Jewish law is an example of what type of law system?

Which of the following refers to documents that specify the conditions under which an exchange is to occur and detail the rights and obligations of the parties involved?

Which of the following establishes a uniform set of rules governing certain aspects of the making and performance of everyday commercial contracts between sellers and buyers who have their places of business in different nations?

The bundle of legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource are called what type of rights?

Which of the following terms best defines the relationship between the level of corruption and economic growth rate in a country?

Products of the mind, such as computer software, a screenplay, a music score, or the chemical formula for a new drug, constitute

Initech Incorporated, a multinational giant, runs a number of diversified businesses. Which of the following can be considered as an intellectual property of the firm?

Which of the following grants the inventor of a new product or process exclusive rights for a defined period to the manufacture, use, or sale of that invention?

Silver Tape Corporation has developed a new type of adhesive tape. Which of the following types of legal protections can grant the company exclusive rights for a defined period to the manufacture, use, or sale of the new adhesive tape?

A composer can protect an original musical score from being copied and sold by someone else by acquiring for the score a(n)

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

Which of the following protects the Nike "Swoosh" logo from being used by any other shoe manufacturer?

Patents, copyrights, and trademarks establish ownership rights over what type of property?

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

The philosophy behind intellectual property laws is to

In the context of "knowledge" economy of the twenty-first century, which of the following statements is true about intellectual property?

Strong enforcement of intellectual property laws

Product safety and product liability laws are enforced to protect

Which of the following type of laws hold a firm and its officers responsible when a product causes injury, death, or damage?

A boom in product liability suits and awards in the United States resulted in a dramatic increase in the cost of liability insurance. Many business executives argue that this

Which of the following statements is true about product safety and liability laws?

Who among the following can claim product liability from the offender?

Veronica had been getting red patches on her face after using a protein-based lotion manufactured by Nature Life Research Lab. On consulting a dermatologist, she learned that the lotion's steroid levels were beyond the standard levels permitted by the government and the damage caused by the lotion was irreversible. Which of the following will address Veronica's grievances?

Which of the following nations is most likely to be unappealing as a place for doing business?

If a country wants to improve its attractiveness as a place for doing business and as an investment site, it should: