Question 1

A person who believes in public ownership of the means of production for the common good of society is a(n) :

Accepted Answer

A)  socialist.
B)  capitalist.
C)  individualist.
D)  monarchist.
E)  feudalist.

Question 2

Silver Tape Corporation has developed a new type of adhesive tape. Which of the following types of legal protections can grant the company exclusive rights for a defined period to the manufacture, use, or sale of the new adhesive tape?

Accepted Answer

A)  Warrant
B)  Patent
C)  Copyright
D)  Trademark
E)  Writ

Question 3

Which of the following is a form of totalitarianism which advocates that socialism can be achieved only through a totalitarian dictatorship?

Accepted Answer

A)  Tribal totalitarianism
B)  Democratic totalitarianism
C)  Communist totalitarianism
D)  Theocratic totalitarianism
E)  Right-wing totalitarianism

Question 4

Discuss the philosophy that underlies intellectual property laws.

Accepted Answer

The philosophy behind intellectual prope...

Question 5

Which of the following establishes a uniform set of rules governing certain aspects of the making and performance of everyday commercial contracts between sellers and buyers who have their places of business in different nations?

Accepted Answer

A)  Contracts for the International Sale of Goods
B)  Bill of Exchange
C)  United Nations Charter
D)  International Forwarding Agent Contract
E)  International Promissory Note

Question 6

States that limit the freedom of religious expression with laws based on religious principles most likely follow the political system of:

Accepted Answer

A)  theocratic totalitarianism.
B)  communist totalitarianism.
C)  right-wing totalitarianism.
D)  pure democracy.
E)  representative democracy.

Question 7

When firms do not wish to accept the rules of the CIGS, what do they often opt for to settle contract disputes?

Accepted Answer

A)  UN involvement
B)  Arbitration
C)  Collective bargaining
D)  The common law system of the United States
E)  Islamic law

Question 8

How does a common law system differ from a civil law system?

Accepted Answer

A common law system has a degree of flex...

Question 9

Which of the following is most likely to be advocated by individualism?

Accepted Answer

A)  Communal property is more highly productive than private property.
B)  Public good should be preferred over private profit.
C)  State-owned companies should monopolize certain industries.
D)  The welfare of society is best served by some collective body such as government.
E)  Free market ideologies should be followed for achieving better standards of living.

Question 10

A boom in product liability suits and awards in the United States resulted in a dramatic increase in the cost of liability insurance. Many business executives argue that this:

Accepted Answer

A)  makes American businesses less competitive in the global marketplace.
B)  offers American businesses greater protection from foreign competitors.
C)  exposes consumers to greater product risks.
D)  eventually makes it cheaper for foreign companies to do business in the United States.
E)  discourages American companies from outsourcing jobs to less developed countries.

Question 11

Product safety and product liability laws are enforced to protect:

Accepted Answer

A)  intellectual property rights.
B)  companies from their domestic competitors.
C)  companies from their foreign competitors.
D)  consumers.
E)  product inventors.

Question 12

In practical terms, collectivism creates a more favorable environment for international businesses to operate in than individualism.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following protects the Nike "Swoosh" logo from being used by any other shoe manufacturer?

Accepted Answer

A)  Trademark
B)  Affidavit
C)  Patent
D)  Warrant
E)  Writ

Question 14

Strong enforcement of intellectual property laws:

Accepted Answer

A)  reduces the piracy (theft)  of intellectual property.
B)  reduces the attractiveness of a country as a market or investment site.
C)  reduces the investments made by companies on basic research.
D)  limits creativity and innovation among people.
E)  prohibits a company from having a monopoly over its breakthrough inventions.

Question 15

The common law system enjoys a degree of flexibility not found in other systems because:

Accepted Answer

A)  it is usually found in democratic republics.
B)  it originated from Great Britain and can be found in almost all of its former colonies.
C)  it is interpreted by the law courts with regard to tradition, precedent, and custom.
D)  it is based on a detailed set of laws organized into codes.
E)  it has originated recently-just a decade ago.

Question 16

Who among the following can claim product liability from the offender?

Accepted Answer

A)  Jason wants to sue a multinational company for mass manufacturing one of his inventions without purchasing the rights.
B)  Rebecca's patented jewelry designs have been imitated and sold at a low price under her brand name.
C)  The airbags in Brian's car, manufactured by Zigwheels Inc., failed to inflate when his car met with an accident. This injured Brian and damaged the car.
D)  Fred has accused his employer of forcing him and his teammates to work in an unsafe environment.
E)  Samantha claims that her neighbor has stolen valuable ancestral antiques from her house.

Question 17

Which of the following can be traced to the ancient Greek philosopher Aristotle?

Accepted Answer

A)  Collectivism
B)  Individualism
C)  Socialism
D)  Totalitarianism
E)  Communism

Question 18

In which countries are we likely to find free market economies?

Accepted Answer

A)  Countries where the good of the society has precedence over private profit
B)  Countries where individual goals are given primacy over collective goals
C)  Countries where state-owned enterprises have a monopoly in certain industries
D)  Countries that have adopted communism as their political system
E)  Countries where the government plans the goods and services produced

Question 19

Judges under a civil law system have less flexibility than those under a common law system.

Accepted Answer

A) True 
 B)False

Question 20

How do the political, economic, and legal environments of a country affect international trade? And what factors make a country favorable for doing business?

Accepted Answer

The political, economic, and legal envir...

Exam 2: National Differences in Political, Economic, and Legal Systems

Judges under a civil law system have less flexibility than those under a common law system.

Correct AnswerverifiedShow Answer

Silver Tape Corporation has developed a new type of adhesive tape. Which of the following types of legal protections can grant the company exclusive rights for a defined period to the manufacture, use, or sale of the new adhesive tape?

Correct AnswerverifiedShow Answer

States that limit the freedom of religious expression with laws based on religious principles most likely follow the political system of:

Correct AnswerverifiedShow Answer

Which of the following protects the Nike "Swoosh" logo from being used by any other shoe manufacturer?

Correct AnswerverifiedShow Answer

Which of the following can be traced to the ancient Greek philosopher Aristotle?

Correct AnswerverifiedShow Answer

Strong enforcement of intellectual property laws:

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Who among the following can claim product liability from the offender?

Correct AnswerverifiedShow Answer

How does a common law system differ from a civil law system?

Correct AnswerverifiedA common law system has a degree of flex...View AnswerShow Answer

When firms do not wish to accept the rules of the CIGS, what do they often opt for to settle contract disputes?

Correct AnswerverifiedShow Answer

Which of the following is a form of totalitarianism which advocates that socialism can be achieved only through a totalitarian dictatorship?

Correct AnswerverifiedShow Answer

Which of the following establishes a uniform set of rules governing certain aspects of the making and performance of everyday commercial contracts between sellers and buyers who have their places of business in different nations?

Correct AnswerverifiedShow Answer

Which of the following is most likely to be advocated by individualism?

Correct AnswerverifiedShow Answer

A person who believes in public ownership of the means of production for the common good of society is a(n) :

Correct AnswerverifiedShow Answer

Discuss the philosophy that underlies intellectual property laws.

Correct AnswerverifiedThe philosophy behind intellectual prope...View AnswerShow Answer

A boom in product liability suits and awards in the United States resulted in a dramatic increase in the cost of liability insurance. Many business executives argue that this:

Correct AnswerverifiedShow Answer

Product safety and product liability laws are enforced to protect:

Correct AnswerverifiedShow Answer

In which countries are we likely to find free market economies?

Correct AnswerverifiedShow Answer

The common law system enjoys a degree of flexibility not found in other systems because:

Correct AnswerverifiedShow Answer

In practical terms, collectivism creates a more favorable environment for international businesses to operate in than individualism.

Correct AnswerverifiedShow Answer

How do the political, economic, and legal environments of a country affect international trade? And what factors make a country favorable for doing business?

Correct AnswerverifiedThe political, economic, and legal envir...View AnswerShow Answer

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A common law system has a degree of flex...
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The philosophy behind intellectual prope...
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The political, economic, and legal envir...
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