Globalization chapter 2

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

Islamic law

Modern socialism traces its intellectual roots to

Karl Marx.

Under a civil law system, it is the responsibility of a judge only to _____ the law.

apply

What is one characteristic of a representative democracy?

citizens periodically elect individuals to act on their behalf

In order to purchase the parts from the supplier, Torc Tools Corp. had to agree with all of the terms set forth in the document the supplier provided which detailed the rights and obligations of the supplier and Torc Tools Corp. This document is a type of

contract

The United Nations created CISG in response to _____ that occur in international trade.

contract disputes

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

copyright

In comparison to market economies, command economies lack

dynamism and innovation.

A payment made to expedite or to secure the performance of a routine governmental action is called a

grease payment.

When comparing the three broad types of economic systems, it can be said that

in a command economy, state-owned enterprises have little incentive to control costs and be efficient.

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

intellectual property.

Which term best represents the relationship between the level of corruption and economic growth rate in a country?

inversely proportional

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

it is interpreted by the law courts with regard to tradition, precedent, and custom.

What are the three broad forms of economic systems?

market, command, and mixed

In 2008, the U.S. government stepped in to help some failing financial institutions as a way to prevent further collapse of the economy. Typically, the U.S. government does not interfere in these situations. What type of economy does this exemplify?

mixed

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.

You thought your contract would protect your rights, but your customer is now refusing to pay for merchandise already received, and the courts don't seem willing to help you.

private action

russia

pseudo democracy

A government official is demanding trips, education payments for his children, and a new care before he will allow your firm to be considered for a procurement bid.

public action

Theocratic law systems are based on

religious teachings.

united states

representative democracy

Germany in 1930's

right-wing totalitarianism

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

right-wing totalitarianism. C

Intellectual property laws protect

the originator of a new invention.

A form of government in which political power is monopolized by a party, group, or individual that governs according to religious principles is called what type of totalitarianism?

theocratic

saudi arabia

theocratic totalitarianism

kenya

tribal totalitarianism

Communists believed that socialism could only be achieved through

violent revolution.

In 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.

When firms do not wish to accept the rules of the CISG, what do they often opt for to settle contract disputes?

arbitration

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

citizens should be directly involved in decision making.

Which type of economy was found in communist countries where the government determined what would be produced and the price it would be sold for?

command

Right-wing totalitarianism restricts political freedom so as to inhibit the rise of

communism

china

communist totalitarianism

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

communists

All of the books in a library have a _____, which shows the exclusive legal rights of the author of the book.

copyright

A nation based on individualism would agree that

free market ideologies should be followed for achieving better standards of living.

Totalitarian states usually have

media that are heavily censored.

Your business is told to pay a group of individuals or face violent retribution. You have learned other similar businesses have faced similar demands.

private action

A group of hackers based in the country where your firm wishes to conduct business has broken into your database and is demanding payment or they will destroy your firm's records.

private actions

You face demands from government officials that will be required before you are allowed to do business. Payments are to be made to individuals, not the government

public action

You've learned your firm will face very expensive new licensing fees in addition to a new tax regulation that targets foreign firms (you) in a specific industry.

public action

The strong enforcement of intellectual property laws helps to.

reduce the piracy (theft) of intellectual property.

In the United States, citizens have the right to elect officials who make decisions on behalf of the public. This practice is the reason the United States is a

representative democracy.

Karl Marx promoted the idea of a(n) ________ society in which the state owned the means of production, distribution, and exchange.

socialist

Which form of government involves one person or political party that exercises absolute control over all spheres of human life and prohibits opposing political parties?

totalitarianism

A totalitarian political system in which a party, group, or individual that represents the interests of a particular tribe monopolizes political power is referred to as

tribal totalitarianism.


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