Global Dimensions Chapter 2

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.

Which countries have experienced tribal totalitarianism rule?

African

What is the objective of a pure command economy?

Allotment of resources for the overall good of society

What is an accurate depiction of Karl Marx's arguments on socialism?

Capitalist take the value created by workers for their own use.

______ refers to a political system that values the needs of society over that of an individual.

Collectivism

A government plans the quantity of goods and services produced as well as the prices at which they are sold in a pure _____ economy.

Command

Based on the political party beliefs of the governments of China and North Korea, these countries practice ______ totalitarianism.

Communist

The body of law that governs oral and written agreements associated with the exchange of goods, services, money and property is known as ____ law.

Contract

______ refers to a political system in which the citizens exercise power directly or elect representatives to form a governing body.

Democracy

A country under totalitarian rule would experience which two of these situations?

Denial of civil rights Censored media

True or False: Unlike the economic system of a country, the legal system is NOT influenced by the prevailing political system.

False

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.

Intellectual

______ property refers to property such as a screenplay, a music score, or the chemical formula for a new drug.

Intellectual

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.

What are the three broad types of economic systems?

Market Command Mixed

Sharon's company developed a new method for sealing medication bottles and has decided to license their patented method to the leading drug manufacturers in the United States. Sharon's company has the legal right to do this based on the _____ rights they have for this method.

Property

The legal rights regarding the use of a resource by a business or individual are known as _____ rights.

Property

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.

______ totalitarianism occurs when a political party that represents the interests of a particular tribe monopolizes power.

Tribal

T or F: Communism is in decline worldwide

True

Which of the following statements about political systems is TRUE?

Typically, political systems that place a high emphasis on individualism tend to be democratic.

The three broad types of economic systems include a market economy, a mixed economy and a(n) _____ economy.

command

A country that bases its laws on the traditions within the country's legal history operates under a _____ law legal system.

common

A(n) ______ is a document that specifies the conditions under which an exchange is to occur, detailing the rights and obligations of the involved parties.

contract

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.

copyright

The ______ system of a country refers to the rules, or laws, that regulate behavior along with the system that enforces them.

legal

Product ______ is the area of law that that holds a firm and its officers responsible for injuries caused by their product.

liability

In a pure ______ economy, all productive activities are owned privately -- not by the state.

market

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.

mixed

In a ______ economy, both private enterprise and some state monopoly co-exist.

mixed

A ______ grants an inventor exclusive rights for a defined period to the manufacture, use, or sale of his or her invention.

patent

Organized crime, such as the "Russian Mafia" that existed following the collapse of communism in Russia and extorted money from businesses is an example of _____ action.

private

Property rights violation that occurs through theft or piracy is an example of _____ action.

private

Governments that levy excessive taxes or require expensive permits from property holders are both examples of ______ action.

public

A country that is ruled based on theocratic totalitarianism is governed based on

religious principles

In a(n) ______ democracy, elected representatives represent the citizens and make decisions on behalf of the electorate.

representative

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

Public action to violate property rights exists when _____ is responsible for the action.

the government

In a pure market economy, production of goods is determined by

the interaction of supply and demand

In a totalitarian country, you would find that

the rulers decisions are not questioned by individuals

A(n) ______ is a recognizable sign, design or name, often officially registered, that identifies products or services from a particular source.

trademark