IB CH 2
Paris Convention for the Protection of Industrial Property
1883. 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
True
A common law system has a degree of flexibility that other legal systems lack.
common law
A country that bases its laws on the traditions within the country's legal history operates under a __________ legal system.
individualism
A nation that fosters ___________ would stress that the interests of the people are more important than the interests of the state.
True
According to Marx, the pay of workers in a capitalist society does not reflect the full value of their labor.
objective of a pure command economy
Allotment of resources for the overall good of society
True
Along the continuum between democracy and totalitarianism, it can be said that it is possible to have a democratic state in which some degree of collectivism exists.
private action
An energy company based in Houston often deals with piracy issues when exporting fuel in tankers to parts of Africa. This piracy is a form of
20
As of 1995, WTO members were obliged to grant and enforce patents that lasted at least __ years
Social democracy
By the end of the 1970s in Great Britain, state-owned companies monopolized the telecommunications, gas, railway, electric, and shipbuilding industries. This was a reflection of which political system in place at the time?
democracy
China and Vietnam have experienced greater individual freedom in the economic sphere; however, this is not a reflection of the presence of a(n)
shorter
Contracts drafted under a civil law system tend to be ________ compared to those drafted under a common law system.
True
Even though there are many state-owned businesses in China, many Western businesses feel that they should still invest in the country because the nation is moving toward a market-based system.
True
Grease payments are considered an acceptable form of a bribe.
the state
In a command economy, businesses are owned by
True
In a country governed by a totalitarian system, you would find that basic civil liberties are denied to citizens.
Government
In a pure command economy, the prices at which goods and services are sold are planned by the
Representative Democracy
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
command
In the country of Doran, all businesses are owned by the state. The government plans production, fixes commodity prices, and also directs investments to ensure they benefit the nation as a whole and not only a few individuals. What type of economy has the country of Doran adopted?
Privatization
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?
North Korea
In the late 1970s, the communist version of socialism was at its highest point. This has declined dramatically today with old-style communism found most notably in only
True
International laws on intellectual property are being strengthened by agreements like TRIPS.
totalitarian country
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.
copyright
Jude, a musician, who is composing his maiden album should apply for
true
Karl Marx would disagree with selling state-owned enterprises to private investors
public action
Levying excessive taxes or requiring expensive permits from property holders are both examples of
patent
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
True
Nations adopting the pure form of democracy would directly involve citizens in the decision making of the country.
True
Resolving contract disputes in a common law system tends to be more adversarial than in civil law systems.
product liability
Several years ago, a customer brought a lawsuit against McDonald's because the coffee she purchased at the drive-thru window was hot when she spilled it on herself in her car. This lawsuit was based on
Individualism
The Declaration of Independence is an ideal example of the tenets of ____________, which emphasize the importance of individual freedoms.
True
The United States passed the Foreign Corrupt Practices Act in response to bribery issues between U.S. companies and foreign countries.
True
The law in a theocratic law system is based on religious teachings.
Islamic Law
The most widely practiced theocratic legal system in the modern world is
public action.
The newspaper story said that the city council was corrupt and had recently taken over three businesses without compensating the owners for them. This type of corruption is an example of
Aristotle
The philosopher ____________ argued in favor of individualism when he said that diversity and private ownership are beneficial to society.
supply and demand.
The production of goods in a pure market economy is determined by
Public Action
The state senator was found guilty of ________ when she tried to extort money from an international business that wanted to open a manufacturing plant in her state.
individualism
The welfare of society is best served by allowing individuals to follow their own economic self-interest.
totalitarian country
There is no questioning of the ruler's decisions.
True
To guarantee that elected representatives can be held accountable for their actions by the electorate, an ideal representative democracy has a number of safeguards that include limited terms in office.
totalitarian
Under Vladimir Putin, the government of Russia is becoming increasingly __________.
True
Unlike a common law system, a civil law system relies on detailed codes.
False
Unlike the economic system of a country, the legal system is NOT influenced by the prevailing political system.
Communists
Until recently, what was the most common form of totalitarianism in the world?
Trademark
What should Stephen, the CEO of an athletic clothing company, obtain to prevent competitors from copying the company logo?
True
When describing intellectual property rights, it can be said that they are subjected to various forms of protection from country to country.
True
When firms do not wish to accept the United Nations Convention on Contracts for the International Sales of Goods (CISG), they often opt for arbitration by a recognized arbitration court to settle contract disputes.
True
When there is evidence of corruption in a country, it will reduce the return on investment of a business.
Plato
Which Greek philosopher is credited with advocating the origins of collectivism?
FCPA (Foreign Corrupt Practices Act)
Which law makes it illegal to bribe a foreign government official to obtain or maintain business over which that foreign official has authority?
Theft Blackmail
Which of the following are examples of private action and a violation of property rights?
Through private or public action
Which of the following are ways in which property rights can be violated?
True
Which of the following factors would make a country desirable to do business with? Democratic political institutions and a market-based economy
Plato
____ would have agreed that society should be stratified into classes and philosophers and soliders were best suited to rule society.
pure market economy
all productive activities are owned privately—not by the state.
mixed economy
both private enterprise and state ownership co-exist.
Buildings Equipment Land
businesses' property consists of which three things
Property rights
determine how a resource or economic good is owned and used.
Representative Democracy
elected individuals represent the citizens and make decisions on behalf of the electorate.
CISG (the United Nations Convention on Contracts for the International Sales of Goods)
governs international commercial contracts for the sale of goods.
patent
grants an inventor exclusive rights for a defined period to the manufacture, use, or sale of his or her invention.
Land
is a document that specifies the conditions under which an exchange is to occur, detailing the rights and obligations of the involved parties.
trademark
is a recognizable sign, design or name, often officially registered, that identifies products or services from a particular source.
computer software industry
is an example of an industry that has weak enforcement of intellectual property rights.
civil law system
is based on a detailed set of laws organized into codes.
Theocratic totalitarianism
is described as a political system in which rulers govern based on religious rules and principles.
Product liability
is the area of law that holds a firm and its officers responsible for injuries caused by their product.
Contract Law
is the body of law that governs oral and written agreements associated with the exchange of goods, services, money and property.
Tribal totalitarianism
occurs when a political party that represents the interests of a particular tribe monopolizes power.
The political economy
of a country refers to the interaction of the political, economic, and legal systems of a country.
legal system
of a country refers to the rules, or laws that regulate behavior along with the system that enforces them.
military
often back(s) right-wing totalitarianism governments.
Universal adult suffrage
paves the way for an ideal representative democracy
right-wing totalitarianism
political freedom is restricted, frequently on the grounds that it would lead to the rise of communism.
grease payment
purpose is to facilitate the performance of duties that a government has already obligated itself to do.
copyright
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.
Individualism
refers to a philosophy that promotes the free exercise of one's goals and desires in economic and political pursuits.
Democracy
refers to a political system in which the citizens exercise power directly or elect representatives to form a governing body.
Intellectual 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.
Privatization
refers to the process of selling state-owned enterprises to private investors
Intellectual property laws
reward creativity and provide an incentive for people to search for novel ways of doing things.
Aristotle
what philosopher would agree with this statement: Private property receives greater care compared to communal property.
Karl Marx
would agree that capitalists take the value created by workers for their own use
