Chapter 2- International Business

Which of the following is a feature of right-wing totalitarianism?

Provision of partial individual economic freedom along with restricted individual political freedom.

_____ is the extortion of income or resources of property holders by public officials such as politicians and government bureaucrats.

Public action

Collectivism

Which philosophies can be traced back to the ancient Greek philosopher Plato?

The role of the government in a market economy involves

encouraging vigorous free and fair competition among private producers.

The common law system

is based on tradition, precedent, and custom.

A common feature of many right-wing dictatorships is that they support

overt hostility

The benefits, costs, and risks associated with doing business in a country are a function of that country's

political, economic, and legal systems.

The _____ committed themselves to achieving socialism without resorting to violent revolution and dictatorship.

social democrats

Contracts drafted under a common law framework tend to be

very detailed with contingencies spelled out.

In a market economy, a supply restriction occurs

when a single firm monopolizes a market.

In a pure command economy

all businesses are owned by the state.

Historically, command economies were found in _____, where collectivist goals were given priority over individual goals.

communist countries

In the early twentieth century, the socialist ideology split into two broad camps:

communists and social democrats.