Chapter 2: Gloabalization

______ totalitarianism occurs when a political party that represents the interests of a particular tribe monopolizes power. Multiple choice question. Theocratic Tribal Democratic Monarchical

Tribal

Until recently, what was the most common form of totalitarianism in the world? Multiple choice question. tribal communist right-wing theocratic

communist

Select the accurate description of a common law system. Multiple choice question. A common law framework tends to be much shorter and less specific than a civil law system. A common law system has a degree of flexibility that other legal systems lack. A common law system does not allow existing laws to be amended. Judges in a common law system have the power only to apply the law but not interpret it.

A common law system has a degree of flexibility that other legal systems lack.

______ law is the body of law that governs oral and written agreements associated with the exchange of goods, services, money and property. Multiple choice question. Theocratic Civil Tribal Contract

Contract

What is a feature of contracts drafted under a common law system? Multiple choice question. Resolving contract disputes in a common law system tends to be less adversarial than in a civil law system. Drafting contracts in a common law system tends to be less expensive than in a civil law system. Contracts drafted in a common law system tend to be much shorter and less specific than those in a civil law system. Contracts drafted under a common law system allow judges to interpret a dispute based on the prevailing situation.

Contracts drafted under a common law system allow judges to interpret a dispute based on the prevailing situation.

______ refers to a political system in which the citizens exercise power directly or elect representatives to form a governing body. Multiple choice question. Democracy Oligarchy Totalitarianism Monarchy

Democracy

Select all that apply A businesses' property consists of which three things? (Check all that apply.) Multiple select question. Equipment Buildings Contracts Land Individuals

Equipment Buildings Land

True or False: According to Karl Marx, the pay of workers in a capitalist society reflects the full value of their labor. True false question. True False

False

True or False: Unlike the economic system of a country, the legal system is NOT influenced by the prevailing political system. True false question. True False

False

True or false: Russia, as it is today, is an example of a pseudo-democracy. True false question. True False

False

______ refers to a philosophy that promotes the free exercise of one's goals and desires in economic and political pursuits. Multiple choice question. Collectivism Communism Totalitarianism Individualism

Individualism

______ property refers to property that is the product of any innovative activity, such as a screenplay, a music score, or the chemical formula for a new drug. Multiple choice question. Intellectual Private Industrial Commercial

Intellectual

The most widely practiced theocratic legal system in the modern world is ______ law. Multiple choice question. Lutheran Hindu Islamic Jewish

Islamic

Which statement BEST describes a totalitarian system? Multiple choice question. It is a form of government in which the state recognizes no limits to its authority and strives to regulate all aspects of public and private life. It refers to a political system that typically asserts the primacy of individual economic and political freedom over societal goals. It is a form of government that typically aims to achieve socialism by democratic means rather than violent revolution or dictatorship. It refers to a political system in which government is by the people, exercised either directly or through elected representatives.

It is a form of government in which the state recognizes no limits to its authority and strives to regulate all aspects of public and private life.

Who among the following should apply for a copyright? Multiple choice question. Amanda, an entrepreneur, who owns a chain of department stores Jude, a musician who is composing his maiden album Sun-Jun, a scientist who is formulating a new pharmaceutical drug Manuel, an engineer who is building a supersonic jet

Jude, a musician who is composing his maiden album

In a pure ______ economy, all productive activities are owned privately -- not by the state. Multiple choice question. market mixed command planned

Market

What are the two ways in which property rights can be violated? Multiple select question. Through religious intent Through private action Through foreign direct investment Through public action

Private and Public Action

______ refers to the process of selling state-owned enterprises to private investors. Multiple choice question. Depersonalization Customization Commercialization Privatization

Privatization

______ rights determine how a resource or economic good is owned and used. Multiple choice question. Common law Theocratic Property Intellectual

Property

Which of these statements shows a difference between the contracts drafted in a common law framework and those in a civil law system? Multiple choice question. Contracts in a common law system do not allow judges the flexibility to interpret a dispute based on the prevailing situation. Contracts drafted in a common law framework tend to be much shorter and less specific than in civil law systems. Resolving contract disputes in a common law system tends to be more adversarial than in civil law systems. Drafting contracts in a common law system tends to be less expensive than in civil law systems.

Resolving contract disputes in a common law system tends to be more adversarial than in civil law systems.

Which characteristic is typical within a totalitarian country? Multiple choice question. There is no questioning of the ruler's decisions. An individual is given the right to freedom of expression. The leaders have limited terms in office. There are no restrictions on media.

There is no questioning of the ruler's decisions.

Select an accurate description of a civil law system. Multiple choice question. Unlike a common law system, a civil law system relies on detailed codes. A civil law system is based on interpreting tradition, precedent, and custom. Judges in a civil law system have the power to interpret the law. Judges under a civil law system have the highest degree of flexibility.

Unlike a common law system, a civil law system relies on detailed codes.

In the early 20th century, communists differed from social democrats in that communists believed in Multiple choice question. commitment to democratic means. encouraging individual freedom. establishment of a non-totalitarian society. a strategy of revolutionary action.

a strategy of revolutionary action.

What is the objective of a pure command economy? Multiple choice question. allotment of resources for the overall good of society privatization of state-owned enterprises diversification of private-sector enterprises abolition of state ownership

allotment of resources for the overall good of society

In a country governed by a totalitarian system, you would find that Multiple choice question. the country has a nonpolitical armed service. basic civil liberties are denied to citizens. free and fair elections are conducted regularly. state bureaucracy is not influenced by politics.

basic civil liberties are denied to citizens.

Karl Marx would agree that Multiple choice question. individual capitalists rather than state-owned enterprises benefit the society as a whole. capitalists take the value created by workers for their own use. in a capitalist society, many people benefit at the expense of a few. state-owned enterprises pay workers lower wages.

capitalists take the value created by workers for their own use.

A _____ law system is based on a detailed set of laws organized into codes. Multiple choice question. civil common

civil

A country that bases its laws on the traditions within the country's legal history operates under a _____ law legal system. Multiple choice question. civil common

common

A(n) ______ is a document that specifies the conditions under which an exchange is to occur, detailing the rights and obligations of the involved parties. Multiple choice question. subpoena bill of lading contract invoice

contract

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. Multiple choice question. patent copyright trademark disclaimer

copyright

Political systems that emphasize individualism tend to promote _____. Multiple choice question. totalitarianism democracy state-run businesses a planned economy

democracy

Nations adopting the pure form of democracy would Multiple choice question. foster political repression and a planned economy. assign a governing body to oversee economic matters. directly involve citizens in the decision making of the country. deny civil liberties to citizens.

directly involve citizens in the decision making of the country.

A ______ grants an inventor exclusive rights for a defined period to the manufacture, use, or sale of his or her invention. Multiple choice question. patent watermark trademark copyright

patent

Theocratic totalitarianism is described as a political system Multiple choice question. in which rulers govern based on religious rules and principles. that strongly advocates private ownership of the basic means of production, distribution, and exchange. in which a party, group, or individual that represents the interests of a particular tribe monopolizes political power. that typically emphasizes the importance of individual economic and political freedom.

in which rulers govern based on religious rules and principles.

Jenner is obtaining a patent for the new diet drink formulation he created. He hopes that Coca Cola and other companies will be interested in licensing his formula. Jenner is protecting his _____ property with the patent. Multiple choice question. intellectual civil theocratic common

intellectual

The political economy of a country refers to the interaction of the political, economic, and _____ systems of a country. Multiple choice question. legal business education social

legal

Product ______ is the area of law that that holds a firm and its officers responsible for injuries caused by their product. Multiple choice question. surety diversity liability security

liability

The _____ often back(s) right-wing totalitarianism governments. Multiple choice question. tribe citizens theocracy military

military

Companies wishing to pursue business opportunities in Sweden would find that while some industries are privately owned, others are state-controlled. What type of economy does this represent? Multiple choice question. free pure command mixed pure market

mixed

In a ______ economy, both private enterprise and state ownership co-exist. Multiple choice question. command market mixed planned

mixed

Millie, a research associate at an information technology firm, develops a program that allows more than six parties to interface at the same time. In order to prevent the competition from duplicating her invention, the company should apply for a Multiple choice question. watermark. copyright. patent. trademark.

patent

The system of government in a nation is called the _____ system. Multiple choice question. economic parliamentary social political

political

The term ______ refers to the interconnection of the political, economic, and legal systems of a country. Multiple choice question. political economy cultural values transnational economic development

political economy

In a nation where right-wing totalitarianism is present, you would find that Multiple choice question. political freedom is restricted, frequently on the grounds that it would lead to the rise of communism. individual political freedom is the ground rule on which a society should be based. there is a goal to achieve socialism by democratic means while condemning violent revolution and dictatorship. citizens periodically elect individuals to represent them.

political freedom is restricted, frequently on the grounds that it would lead to the rise of communism.

In the last half of the twentieth century, Britain's Conservative Party sold state-owned enterprises to individual investors in order to create a free market economy. What process was Britain using to create this economy? Multiple choice question. federalism totalitarianism isolationism privatization

privatization

As used in the text, the term "______" refers to a resource that an individual or business legally owns. Multiple choice question. source property rights personnel

property

High levels of corruption in a country would tend to Multiple choice question. reduce the levels of poverty in a nation. reduce foreign direct investment. increase the level of international trade. increase the economic growth of a nation.

reduce foreign direct investment.

When there is evidence of corruption in a country it will Multiple choice question. increase the incentive of domestic businesses to invest in the country. reduce the level of unemployment. reduce the return on investment of a business. increase the incentive of foreign businesses to invest in the country.

reduce the return on investment of a business.

In a(n) ______ democracy, elected individuals represent the citizens and make decisions on behalf of the electorate. Multiple choice question. common representative totalitarianism elite

representative

Collectivism refers to a political system that Multiple choice question. restricts an individual's right to do something on the grounds that it runs counter to the "good of society". stresses that the welfare of the society is best served by letting people pursue their own economic self-interest. generally supports a pure market economy and privately-owned enterprises. generally emphasizes individual freedom and self-expression.

restricts an individual's right to do something on the grounds that it runs counter to the "good of society".

Contracts drafted under a civil law system tend to be _____ compared to those drafted under a common law system. Multiple choice question. more specific shorter more expensive to draw up very detailed

shorter

A nation that fosters individualism would Multiple choice question. stress that the interests of the people are more important than the interests of the state. tend to support a totalitarian political system in order to achieve the needs of the society as a whole. advocate that communal property is more productive than private property and thus stimulates progress. restrict a person's right to do something on the grounds that it runs counter to "the common good."

stress that the interests of the people are more important than the interests of the state.

The production of goods in a pure market economy are determined by Multiple choice question. the collective good. the political system. state-owned institutions. supply and demand.

supply and demand.

A pseudo-democracy is the term given to a nation in which Multiple choice question. the government is in control of the machinery of the state and uses this power to deny political and civil liberties. free elections are introduced as the first step in achieving a pure democracy. electors and the electorate work in harmony to achieve the best interests of the nation. all productive activities are privately owned.

the government is in control of the machinery of the state and uses this power to deny political and civil liberties.

In a command economy, businesses are owned by _____. Multiple choice question. the state individuals conglomerates foreign investors

the state

Under Vladimir Putin, the government of Russia has becoming increasingly _____. Multiple choice question. totalitarian theocratic democratic individualistic

totalitarian

A(n) ______ is a recognizable sign, design or name, often officially registered, that identifies products or services from a particular source. Multiple choice question. trademark abridgment patent copyright

trademark