Globalization chapter 2
What is the most widely practiced theocratic legal system in the modern world?
Islamic law
Modern socialism traces its intellectual roots to
Karl Marx.
Under a civil law system, it is the responsibility of a judge only to _____ the law.
apply
What is one characteristic of a representative democracy?
citizens periodically elect individuals to act on their behalf
In order to purchase the parts from the supplier, Torc Tools Corp. had to agree with all of the terms set forth in the document the supplier provided which detailed the rights and obligations of the supplier and Torc Tools Corp. This document is a type of
contract
The United Nations created CISG in response to _____ that occur in international trade.
contract disputes
A composer can protect an original musical score from being copied and sold by someone else by acquiring a(n)
copyright
In comparison to market economies, command economies lack
dynamism and innovation.
A payment made to expedite or to secure the performance of a routine governmental action is called a
grease payment.
When comparing the three broad types of economic systems, it can be said that
in a command economy, state-owned enterprises have little incentive to control costs and be efficient.
Products of the mind, such as computer software, a screenplay, a music score, or the chemical formula for a new drug, constitute
intellectual property.
Which term best represents the relationship between the level of corruption and economic growth rate in a country?
inversely proportional
The common law system enjoys a degree of flexibility not found in other systems because
it is interpreted by the law courts with regard to tradition, precedent, and custom.
What are the three broad forms of economic systems?
market, command, and mixed
In 2008, the U.S. government stepped in to help some failing financial institutions as a way to prevent further collapse of the economy. Typically, the U.S. government does not interfere in these situations. What type of economy does this exemplify?
mixed
If a country wants to improve its attractiveness as a place for doing business and as an investment site, it should
move toward a market-based system.
You thought your contract would protect your rights, but your customer is now refusing to pay for merchandise already received, and the courts don't seem willing to help you.
private action
russia
pseudo democracy
A government official is demanding trips, education payments for his children, and a new care before he will allow your firm to be considered for a procurement bid.
public action
Theocratic law systems are based on
religious teachings.
united states
representative democracy
Germany in 1930's
right-wing totalitarianism
The fascist regimes that ruled Germany and Italy in the 1930s and 1940s had adopted
right-wing totalitarianism. C
Intellectual property laws protect
the originator of a new invention.
A form of government in which political power is monopolized by a party, group, or individual that governs according to religious principles is called what type of totalitarianism?
theocratic
saudi arabia
theocratic totalitarianism
kenya
tribal totalitarianism
Communists believed that socialism could only be achieved through
violent revolution.
In the United States, the Foreign Corrupt Practices Act was passed during the 1970s following revelations that
U.S. companies had bribed government officials in foreign countries in an attempt to win lucrative contracts.
When firms do not wish to accept the rules of the CISG, what do they often opt for to settle contract disputes?
arbitration
Democracy, in its purest form, is based on the belief that
citizens should be directly involved in decision making.
Which type of economy was found in communist countries where the government determined what would be produced and the price it would be sold for?
command
Right-wing totalitarianism restricts political freedom so as to inhibit the rise of
communism
china
communist totalitarianism
In the early twentieth century, the socialist ideology split into two broad camps and the people who believed that socialism could be achieved only through violent revolution and totalitarian dictatorship were referred to as
communists
All of the books in a library have a _____, which shows the exclusive legal rights of the author of the book.
copyright
A nation based on individualism would agree that
free market ideologies should be followed for achieving better standards of living.
Totalitarian states usually have
media that are heavily censored.
Your business is told to pay a group of individuals or face violent retribution. You have learned other similar businesses have faced similar demands.
private action
A group of hackers based in the country where your firm wishes to conduct business has broken into your database and is demanding payment or they will destroy your firm's records.
private actions
You face demands from government officials that will be required before you are allowed to do business. Payments are to be made to individuals, not the government
public action
You've learned your firm will face very expensive new licensing fees in addition to a new tax regulation that targets foreign firms (you) in a specific industry.
public action
The strong enforcement of intellectual property laws helps to.
reduce the piracy (theft) of intellectual property.
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 a
representative democracy.
Karl Marx promoted the idea of a(n) ________ society in which the state owned the means of production, distribution, and exchange.
socialist
Which form of government involves one person or political party that exercises absolute control over all spheres of human life and prohibits opposing political parties?
totalitarianism
A totalitarian political system in which a party, group, or individual that represents the interests of a particular tribe monopolizes political power is referred to as
tribal totalitarianism.
