CH2 Questions

theocratic

The government of Iran is ruled by religious figures, and they ensure that citizens adhere to Islamic teachings. Iran is a ____ law system. theocratic civil traditional common

encouraging vigorous free and fair competition among private producers.

The role of the government in a market economy involves determining the prices at which goods and services will be sold. planning the types and quantities of goods and services to be produced. mobilizing economic resources of the country for public good. encouraging vigorous free and fair competition among private producers.

political economy

The term ________blank stresses that the political, economic, and legal systems of a country are interdependent. socialism collectivism common law political economy

judges' decisions are based on detailed legal codes.

A civil law system tends to be less adversarial than a common law system because the judges have the freedom to interpret laws based on the situation. judges' decisions are based on detailed legal codes. they're just civil to each other, man judges' decisions are based on religious teachings. judges are guided by interpretations made in prior legal cases.

democratic

People's right to protest on issues of accountability in public expenditure would be possible in a ________blank political setup. democratic dictatorial fascist totalitarian

totalitarian

Systems that emphasize collectivism have a greater tendency to end up in democracy totalitarian capitalism privatization

collectivism

When __ is emphasized, an individual's right to do something may be restricted on the grounds that it runs counter to "the good of society." totalitarianism theocracy collectivism individualism

a music score

Which is an example of intellectual property? a software business a music score a laser-tag game a theater

All businesses are owned by the state.

Which of these is a characteristic of a pure command economy? All businesses are owned by the state. Prices are determined by market forces. There is free and fair competition between private producers. The goods and services that a country produces are planned by consumers.

They can affect the attractiveness of a country as an investment site or market.

Which statement about the legal systems of countries is true? They can affect the attractiveness of a country as an investment site or market. They are not influenced by the prevailing political system of the country. They are of little importance to international business. They are almost the same for all countries.

Adam Smith

Who was the author of "The Wealth of Nations?" David Ricardo Adam Smith Karl Marx Mortimer Smith, Jr. John Stuart Mill

Ownership rights over intellectual property

___ are established through patents, copyrights, and trademarks. Ownership rights over private property Origination fees and tributes Ownership rights over intellectual property Digital signatures

In a common law system a judge has the power to interpret the law, while in a civil law system a judge has the power only to apply the law.

How does a common law system differ from a civil law system? A common law system is based on religious teachings, while a civil law system is based on cultural traditions. In a common law system a judge has the power to interpret the law, while in a civil law system a judge has the power only to apply the law. In a common law system, a judge relies on legal codes to make rulings, while in a civil law system a judge relies on his intuition and moral reasoning to make judgments. A common law system is very rigid, while a civil law system tends to be more flexible.

individualist

In a(n) ___society, the welfare of society is best served by letting people pursue their own economic self-interest. totalitarian communist collectivist individualist

Karl Marx

Modern socialists trace their intellectual roots to _____, although socialist thought clearly predates this individual. Mortimer Smith Jr. Adam Smith John Stuart Mill David Ricardo Karl Marx