int ch3

What is an accurate description of how the political economy of many of the world's nation-states has changed radically since the late 1980s?

There has been a move away from centrally planned and mixed economies and toward a more free market economic model.

Nobel Prize-winning economist Amartya Sen would agree that ________ is/are an important factor in development of a country.

basic health care

A country that abolishes laws that regulate private enterprises and removes price controls is in the process of

deregulation.

If a country exercises tight control over prices and output, prohibits private enterprises from operating in most sectors of the economy, and severely restricts foreign direct investment and international trade, it is against the practice of

deregulation.

When Mark Zuckerberg co-founded Facebook, he was acting as a(n) ________ since he was the first to commercialize this innovative new product.

entrepreneur

U.S.-based Centra Corporation is hesitant about entering into a licensing agreement with Fission, Inc., a company from another nation, due to the likelihood that Fission will break a contract or expropriate property rights. What specific type of risk is Centra Corporation trying to avoid?

legal

ABC Company is hesitant about entering Ukraine, because the country has been experiencing social unrest in recent years. Based on this information, what type of risk is ABC Company trying to avoid?

political

Economist Hernando de Soto believes that the benefits of capitalism will not be achieved until

property rights are better protected.

A country that has ________ lowers the risk of doing business in that country.

the presence of a strong legal system

The spread of democracy among countries is most likely to lead to

the promotion of greater competition.