MGMT 350 chapter 2

Which continent has experienced tribal totalitarianism rule? A. Africa B. Europe C. Asia D. North America

A. Africa

What does individualism emphasize? A. a totalitarian political system is necessary to increase political repression B. individuals' rights should be restricted, since they run counter to the "good of the society" C. the importance of guaranteeing one's freedom and self-expression D. the welfare of the society is best served by a collective body dictating what is in society's best interest

C. the importance of guaranteeing one's freedom and self-expression

If you were asked to provide a fact about a common law system, what should you say? A. A common law system tends to be less adversarial than a civil law system. B. A common law system provides a general set of laws that do not allow for individual interpretation. C. Judges are not used in a common law system. D. A common law system has a degree of flexibility that other legal systems lack.

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

______ refers to a political system in which the citizens exercise power directly or elect representatives to form a governing body. A. Monarchy B. Totalitarianism C. Oligarchy D. Democracy

D. Democracy

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

D. a strategy of revolutionary action.

A(n) Blank______ is a recognizable sign, design or name, often officially registered, that identifies products or services from a particular source. A. patent B. copyright C. abridgment D. trademark

D. trademark

T/F History shows that state ownership of the means of production never ran counter to the public interest.

False

T/F Unlike the economic system of a country, the legal system is NOT influenced by the prevailing political system.

False

T/F According to Karl Marx, the pay of workers in a capitalist society reflects the full value of their labor.

False

A government plans the quantity of goods and services produced as well as the prices at which they are sold in a pure _______ economy.

command

What are the three broad types of economic systems? pseudo economy civil economy market economy command economy mixed economy

market economy command economy mixed economy

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. A. contract B. affidavit C. subpoena D. writ

A. contract

In a totalitarian country, you would find that A. the ruler's decisions are not to be questioned by individuals. B. there are no restrictions on media. C. an individual is given the right to freedom of expression. D. the leaders have limited terms in office.

A. the ruler's decisions are not to be questioned by individuals.

What is an accurate depiction of Karl Marx's arguments on socialism? A. Individual capitalists rather than state-owned enterprises benefit the society as a whole. B. Capitalists take the value created by workers for their own use. C. State-owned enterprises pay workers lower wages. D. In a capitalist society, many people benefit at the expense of a few.

B. Capitalists take the value created by workers for their own use.

Natalia, a research associate at a biotechnology firm, develops a diagnostic kit for the rapid detection of malaria. In order to prevent competitors from duplicating her invention, Natalia should apply for a A. watermark. B. patent. C. copyright. D. trademark.

B. patent.

Lax enforcement of intellectual property rights in the computer software industry has lead to stealing of software applications. This illegal process is also known as A. phishing. B. arbitration. C. piracy. D. spamming.

C. piracy

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

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

T/F The concept of individualism had significant influence on the American colonies as they fought for independence from Great Britain.

True

What condition must be present to create an ideal representative democracy? A. Restricted access to state information B. A nonpolitical state bureaucracy C. Unlimited terms in office for elected representatives D. Politically influenced court system

B. A nonpolitical state bureaucracy

What is one way high levels of corruption affect a country? A. It increases the incentive of foreign businesses to invest in the country. B. It reduces the return on investment of a business. C. It reduces the level of unemployment. D. It increases the incentive of domestic businesses to invest in the country.

B. It reduces the return on investment of a business.

The system of government in a nation is called the ______ system. A. social B. political C. academic D. economic

B. political

Organized crime, such as the "Russian Mafia" that existed following the collapse of communism in Russia and extorted money from businesses is an example of ______ action. A. command B. private C. market D. public

B. private

Hanson Manufacturing holds legal title to the land, buildings, and equipment associated with the business. These holdings represent the company's Blank______. A. mission B. property C. rights D. action

B. property

A country that is ruled based on theocratic totalitarianism is governed based on A. democratic freedoms. B. religious principles. C. the free will of the people. D. the law of business.

B. religious principles.

T/F Communism is in decline worldwide.

True

T/F Patents provide a reassurance for companies and encourage them to pursue extensive research projects.

True

In a pure market economy, production of goods is determined by A. monopolistic firms. B. the interaction of supply and demand. C. the reigning government body. D. availability of resources from outside suppliers.

B. the interaction of supply and demand.

When considering how intellectual property rights are viewed around the world, it can be said that A. laws enforcing these rights are strictly enforced. B. they are subjected to various forms of protection from country to country. C. they are protected and governed by uniform regulations worldwide. D. there are few regulations in place today.

B. they are subjected to various forms of protection from country to country.

When discussing a common law system, a country's legal history is known as ______. A. custom B. tradition C. precedent D. jurisdiction

B. tradition

What two broad issues for international business can be identified when considering the political, economic, and legal environments of a country? - These systems clearly influence the attractiveness of a country as a market or investment site. - These systems work to produce homogeneity across markets which fosters international business. - These systems tend to have an affect on a nation but not necessarily individual businesses within that nation. - These systems raise important ethical issues that have implications for international business.

- These systems clearly influence the attractiveness of a country as a market or investment site. - These systems raise important ethical issues that have implications for international business.

______ refers to the process of selling state-owned enterprises to private investors. A. Privatization B. Depersonalization C. Commercialization D. Customization

A. Privatization

On the democracy and totalitarianism continuum, ______ represents the form of government in which one political party exerts absolute control over all spheres of human life.

totalitarianism

What statement BEST describes a totalitarian system? A. 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. B. It is a form of government that typically aims to achieve socialism by democratic means rather than violent revolution or dictatorship. C. It refers to a political system that typically asserts the primacy of individual economic and political freedom over societal goals. D. It refers to a political system in which government is by the people, exercised either directly or through elected representatives.

A. 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.

Which one of these individuals should apply for a copyright? A. Jude, a musician who is composing his maiden album B. Jack, an engineer who is building a supersonic jet C. Keith, a scientist who is formulating a new pharmaceutical drug D. Amanda, an entrepreneur, who owns a chain of department stores

A. Jude, a musician who is composing his maiden album

Carrie's professor asked her to describe democracy. Which of these statements should she use? A. The pure form of democracy believes that laws and policies should be made directly by citizens. B. In a representative democracy, political repression is often widespread. C. In a representative democracy, basic civil liberties are often denied to citizens. D. The pure form of democracy is based on a belief that "the good of society" can be achieved only through violent revolution.

A. The pure form of democracy believes that laws and policies should be made directly by citizens.

Which statement accurately describes a civil law system? A. Unlike a common law system, a civil law system relies on detailed codes, and therefore, can be less adversarial. B. Unlike judges under a common law system, those under a civil law system have the highest degree of flexibility. C. Judges under a civil law system have the power to interpret the law. D. A civil law system is based on interpreting tradition, precedent, and custom.

A. Unlike a common law system, a civil law system relies on detailed codes, and therefore, can be less adversarial.

Plato would have agreed that society should be stratified into classes and ______ were best suited to rule society. A. philosophers and soldiers B. lawyers and physicians C. religious leaders D. the wealthy

A. philosophers and soldiers

Corner Coffee Inc. makes coffee pots. Last year, thirty people received serious burns when water leaked down the side of the carafe of a Corner Coffeemaker while the coffee was brewing. Even though Corner Coffee pulled this coffee pot from production, all thirty people who were injured have filed a criminal case against the company. These customers can hold the company responsible based on ______ law. A. product liability B. intellectual property rights C. copyright D. facilitating payments

A. product liability

In a theocratic law system, the law is based on A. religious teachings. B. the tradition and precedent of legal decisions. C. economic reform. D. a set of laws organized into codes.

A. religious teachings.

If you adhered to the concept of individualism, you would say that individualism A. stresses that the interests of the people are more important than the interests of the state. B. advocates that communal property is more highly productive than private property and thus stimulates progress. c. restricts a person's right to do something on the grounds that it runs counter to "the common good." d. often tends to support a totalitarian political system in order to achieve the needs of the society as a whole.

A. stresses that the interests of the people are more important than the interests of the state.

Select the correct statement about democracy and totalitarianism. A. It is not possible to have a totalitarian state in which some degree of individualism is encouraged. B. It is possible to have a democratic state in which some degree of collectivism exists. C. Democracy and collectivism go hand in hand. D. Totalitarianism and individualism go hand in hand.

B. It is possible to have a democratic state in which some degree of collectivism exists.

Shondra's company developed a new method for sealing medication bottles and has decided to license their patented method to the leading drug manufacturers in the United States. Shondra's company has the legal right to do this based on the ______ rights they have for this method. A. common B. property C. capital D. civil

B. property

The Foreign Corrupt Practices Act was established in the 1970s following the revelation that companies in ______ had bribed government officials in foreign countries as an attempt to win lucrative contracts. A. Russia B. the United States C. South Africa D. China

B. the United States

Public action to violate property rights exists when _____ is responsible for the action. A. organized crime B. the government C. the consumer D. big business

B. the government

In a ______ economy, both private enterprise and some state monopolies co-exist. A. market B. planned C mixed D. command

C mixed

______ often back(s) right-wing totalitarianism governments. A. Big business B. The church C. The military D. Democrats

C. The military

Which of the following statements about political systems is TRUE? A. Typically, political systems that support communism emphasize the importance of guaranteeing individual freedom and self-expression. B. Typically, political systems that support a pure command economy emphasize the importance of privately-owned businesses. C. Typically, political systems that place a high emphasis on individualism tend to be democratic. D. Typically, political systems that stress individual freedom over "the good of society" tend to support collectivism.

C. Typically, political systems that place a high emphasis on individualism tend to be democratic.

A ______ law system is based on a detailed set of laws organized into codes. A. theocratic B. tribal C. civil D. common

C. civil

Samuel wrote a screenplay and he is traveling to Los Angeles next week to pitch his idea to a movie studio. The screenplay is an example of ______ property. A. facilitating B. civil C. intellectual D. theocratic

C. intellectual

The term ______ is used to stress that the political, economic, and legal systems of a country are connected. A. commercialization B. gross domestic product C. political economy D. collectivism

C. political economy

Compared to contracts drafted in a common law system, contracts in a civil law system A. have the highest degree of flexibility. B. tend to be highly detailed. C. tend to be much shorter and less specific. D. allow judges to interpret a contract dispute based on the prevailing situation.

C. tend to be much shorter and less specific.