INTB200 Practice Questions
social democrats advocate for
achieiving socialism through non-violent means
what is the objective of a pure command economy?
allotment of resources for the overall good of society
Karl Marx would agree that
capitalists take the value created by workers for their own use
____ refers to a political systems that values the needs of society over than of an individual
collectivism
__ law is the body of the law that governs and written agreements assocaited with exchange of goods, services, money and property
contract law
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
International business is different for 4 reasons
countries are different range of problems is wider and problems are more complex must find ways to work with governmental limits transactions involve converting money into different currencies
nations adopting the pure form of democracy would....
directly involve citizens in the decision making of the country
Which law makes it illegal to bribe a foreign government official to obtain or maintain business over which that foreign official has authority?
foreign corrupt practices act
the purpose of a ____ is to facilitate the performance of duties that a government has already obligated itself to do
grease payments
according to many business executives. what makes american businesses less competitive in global marketplace?
high costs of liability insurenace in the us
theocratic totalitarian is described as a political system
in which rulers govern based on religious rules and principles
Marcus is obtaining a patent for the new glue formulation he created. He hopes that 3M and other companies will be interested in licensing the formula. Marcus is protecting his...
intellectual property
A business's property consists of which three things?
land buildings equipment
is there a shift toward a more integrated and interdependent global economy a good thing?
many exports believe that globalization is promoting greater prosperity in the global economy, more jobs and lower prices for goods and services
in a ___ economy both private enterprises and some state monopoly co-exist
mixed
Under the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement, the intellectual property regulations established by the World Trade Organization ___.
oblige members to grant and enforce patents lasting at least 20 years.
The members of the World Intellectual Property Organization have signed international treaties designed to protect intellectual property, including the oldest such treaty known as the _______, which dates to 1883.
paris convention for the protection of industrial property
A ___ grants an inventor exclusive rights for defined period to the manufacture, use or sale of his own invention
patent
what is an example of a facilitating payment under US law and the organization for economic cooperation and development convention?
payments that are made for the purpose of speeding up the issuance of a drivers license
the term ____ is used to stress that the political, economic and legal systems of a country are connected
political economy
The violation of property rights through theft, piracy, blackamil etc. by private individuals or groups is a form of ___ action
private
what are the two ways property rights can be violated?
private and public action
levying excessive taxes or requring expensive permits from property holders are both examples of ___ action
public
when there is an evidence of corruption in a country it will....
reduce the return of investment of a business
collectivism refers to a political system ___
restricts an individual right to do something on the grounds that it runs counter to the good of soceity
while a pure economy is thought to be based on the collective good of society, it is often results in
state owned enterprises that have fewer reasons to control costs
which characteristic is typical of a totalitarian country?
there is no questioning of the ruler's decisions
in the early 20th century, communists differed from social democrats in that communists believed in?
A strategy of revolutionary action
refers to a politcal system in which the citizens exercise power directly or elect representatives to form a governing body
Democracy
____ refers to a philosphy that promotes the free exercise of one's goals and desires in economic and political pursuits
Individualism
the most widely practiced theocratic legal system in the modern world is ___ law
Islamic
the system of gov in a nation is called ___ system
Political
in teh last half of the 20th century, Britain's conservative party sold state owned enterprises to individual investors in order to create a free market economy, what was Britain using to create this economy?
Privatization
