international business chapter 2

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?

Individualism

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

Intellectual property has become an increasingly important source of economic value for businesses.

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

Legal system

Which of the following best exemplifies facilitating or expediting payments in business?

Making small payments to government officials in order to speed up the work they are already obligated to perform

Which of the following applies to most totalitarian states?

Media are heavily censored.

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

A nation that has a totalitarian political system

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

Communist totalitarianism

Which of the following does the U.S. law and OECD convention allow as an exception?

Grease payments or speed money

Which of the following is inconsistent with Marxist philosophy?

Selling state-owned enterprises to private investors

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

The airbags in Brian's car, manufactured by Zigwheels Inc., failed to inflate when his car met with an accident. This injured Brian and damaged the car.

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

Theocratic

n the United States, the Foreign Corrupt Practices Act was passed during the 1970s following revelations that:

U.S. companies had bribed government officials in foreign countries in an attempt to win lucrative contracts.

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?

contracts

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

copyright

All right-wing dictatorships display an affinity toward socialist or communist ideas.

false

Command economies provide a more favorable environment for innovation and entrepreneurs than market economies.

false

In a pure command economy, the goods and services that a country produces, the quantity in which they are produced, and the prices at which they are sold are all dictated by the interaction of demand and supply.

false

One of the tenets of collectivism is that the welfare of society is best served by letting people pursue their own economic self-interest.

false

When law courts interpret civil law, they do so with regard to tradition, precedent, and custom.

false

A common feature of many right-wing dictatorships is:

governments that are made up of military officers.

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?

market

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

move toward a market-based system.

After the collapse of communism in Dehran, successful business owners often had to pay "protection money" to the mafia or face violent retribution. In the context of property rights, the behavior of the mafia is an example of:

private action.

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?

property

The fascist regimes that ruled Germany and Italy in the 1930s and 1940s had adopted:

right-wing totalitarianism.

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

theocratic law system.

In practical terms, individualism translates into an advocacy for democratic ideals and free market economics.

true

Islamic law is primarily a moral rather than a commercial law and is intended to govern all aspects of life.

true

Karl Marx advocated state ownership of the basic means of production, distribution, and exchange (i.e., businesses).

true

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

collectivism.