International business, chapter 2

An accurate description of a common law system

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

What is the objective of a pure command economy?

A lot of resources for the overall good of society

What factors would make a country desirable to do business with?

A market based economy, democratic political institutions

Since the 1950s, China has transition from being one party state dominated by central planning to what

A mixed economy with a strong private sector

In the early 20th century, communist, deferred from social Democrats in that communist believed in

A strategy of revolutionary action

Social Democrats advocate for

Achieving socialism through nonviolent means

Grease payments are considered an acceptable form of

Bribe

In a nation where right wing totalitarianism is present you would find that

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

What refers to the process of selling state owned enterprises to private investors?

Privatization

Contracts, drafted under a civil law system tends to be what compared to those drafted under a common law system

Shorter

France, state owned, enterprises, allow for the public rather than the private profit

Social democracy

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

In a command economy, businesses are owned by

The state

Within a common law system, a countries, legal history is known as

Tradition

True or false -International laws on intellectual property are being strengthened by agreements like TRIPS

True

Saudi Arabia, ruled by an Islamic absolute monarchy

Theocratic totalitarianism

Way in which property rights can be viol

Through private action through public action

Zimbabwe, defeated in 2008 parliamentary elections president. Mugi remains in power today.

Tribal totalitarianism

True or false, Russia, as it is today is an example of a pseudo democracy

True

What condition paves the way for an ideal representative democracy

Universal adult suffrage

Description of a civil law system

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

As of 1995, WTO members were all obliged to grant and enforced patents that lasted at least

20 years

High levels of corruption in a country would tend to

Reduce foreign direct investment

United States, two major political parties field candidates for federal state and local elections

Representative democracy

The difference between the contract drafted in a common law framework, and those in a civil law system

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

Italy, in the 1930s Benito Mussolini's dictatorship

Right wing totalitarianism

By the end of the 1970s in Great Britain, state owned companies monopolize the telecommunications gas railway electric and shipbuilding industries. This was a reflection of what political system in place at that time?

Social democracy

When describing intellectual property rights, it can be said that they

Subjected to various forms of protection from country to country

A pseudo democracy is the term given to a nation in which

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

The ——-often backs right wing totalitarianism government

Military

Karl Marx would agree that

Capitalist take the value created by workers for their own use

China the new party chief has said officials need to guard against corruption as its spread with doom the party, and the state is an example of

Communist totalitarianism

What law is the body of law that governs the written agreement, specifying the conditions, under which an exchange is to occur

Contract law

A feature of contracts drafted under a common law system

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

Political systems that emphasize individualism tend to promote

Democracy

The philosopher Aristotle argued in favor of individualism when he said that

Diversity and private ownership are beneficial to society

In a market economy, the governments role is to

Encourage free and fair competition, and minimize restrictive business practices

True or false, unlike the economic system of a country, the legal system is not influenced by the prevailing political system

False

The purpose of a——— payment is to facilitate the performance of duties that a government has already obligated itself to do

Grease payment

The declaration of independence is an ideal example of the tenants of ———-, which emphasize the importance of individual freedoms

Individualism

Best describes the United Nations convention on contracts for the international sale of goods

It governs international commercial contracts for the sale of goods

Best describes the totalitarian system

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

What is the area of law that holds a firm and its officers responsible for injuries caused by their product

Product Liability

Loving, excessive taxes or requiring expensive permits from property holders are both examples of

Public action

In the late 1970s, the communist version of socialism was at its highest point this has declined dramatically today with the old style communism found most notably in only what country

North Korea

The members of the world, intellectual property organization have signed international treaties designed to protect the intellectual property, including the oldest such treaty which dates to 1883, known as

Paris convention for the protection of industrial property