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ch 3 Terms in this set (90)1) In ________ cultures, economic systems tend to provide incentives and rewards for a person's private business initiatives. A 2) Which of the following political ideologies states that every aspect of people's lives must be controlled for a nation's political system to be effective? A 3) In a totalitarian political system, ________. D 4) Totalitarian political systems include authoritarian regimes such as ________. C 5) ________ is the belief that only individuals and private groups should control a nation's political activities. B 6) ________ is the belief that both private and public groups play important roles in a nation's political activities. D 7) ________ political systems include democracies, constitutional monarchies, and some aristocracies. D 8) Konesia is a country whose political leaders do not tolerate opposing viewpoints and often suppress or punish dissidents. The lives of
Konesians are tightly controlled by its rulers. Which of the following political systems prevails in the country? A 9) Which of the following is a characteristic of totalitarian governments? D 10) A ________ is a political system in which a country's religious leaders serve as its political leaders. B 11) Renzi
belongs to a country in which religion governs all aspects of his life, whether personal or public. He has to abide by a strict, rigid, code that dictates everything from the clothes he wears to the food he eats. Breaking away from these traditions is not an option since religion plays an important role in the functioning of the nation. What political system prevails in his country? D 12) ________ is a political system in which political leaders rely on military and bureaucratic power to support their rule. A 13) Under ________, the government endorses private
ownership of property and a marketbased economy but grants little or no political freedom. D 14) Which of the following terms is also used to refer to communism? C 15) Which of the following is an advantage of conducting business in totalitarian nations? A 16) Which of the following is a disadvantage of conducting business in totalitarian nations? A) Laws regarding the resolution of contractual disputes are rigid and inflexible. B) Companies have to contend with the interference of local political opposition. C 17) A ________ is a political system in which government leaders are elected directly by the wide participation of the people or by their representatives. A 18) Which of the following statements about
representative democracies is true? C 19) In a ________ government, the strongest political parties share
power by dividing government responsibilities among themselves. A 20) Democracies try to preserve peaceful coexistence among groups of people with diverse cultural, ethnic, and racial backgrounds. These rights are known as ________ rights. D 21) The government maintains control over the banking industry in a country. Which of the following is most likely true if the country has a mixed economy? B 22) Which of the following do governments impose upon people to help pay for the consequences of using a particular product? A) income taxes B Scenario: Susan Goes Global with Grape Fizz Susan is the CEO of Grape Fizz, a global drinks-manufacturing company. She wishes to set up production facilities in other countries and has been advised to assess the political system of each country before she does so. 23) Susan decides not to set up production facilities in Konesia because its business laws are vague and are often interpreted according to the convenience of the government. Bribery is a common feature in conducting business deals there and a refusal to pay up is not an option. What kind of government does Konesia
have? C 24) Susan also decides not to set up production facilities in Margazo, a country which functions by a strict set of religious tenets, because some of them contradict her company's work policy. Expecting potential employees to break away from these traditions is not an option since religion plays an important role in the
functioning of the nation. What kind of political system prevails in Margazo? B 25) In a totalitarian system, rulers tightly control people's lives and do not tolerate opposing viewpoints. True 26) Anarchism is the belief that every aspect
of people's lives must not be controlled in order for a nation's political system to be effective. True 27) Pluralism is the belief that both private and public groups play important roles in a nation's political activities. True 28) Pluralistic political systems include democracies, constitutional
monarchies, and some aristocracies. True 29) A political system in which a country's religious leaders are also its political leaders is called a theocracy. True 30) Pluralism is a political system in which political leaders rely on military and bureaucratic power. False 31) Secular totalitarianism is a political system in which government leaders are elected directly by the wide participation of the people or their representatives. False 32) The most peaceful nations today are those that were never controlled and stabilized by colonial powers True
33) In a coalition government, the strongest political parties share power by dividing government responsibilities among themselves. True 34) The bureaucracy is the part of government that implements the rules and laws passed by elected representatives. True 35) Communists are socialists, but
socialists are not necessarily communist. True 36) Totalitarianism is a political ideology that typically involves constant indoctrination of the population by agents of the government to eliminate dissent. True 37) Totalitarian governments tend to favor government ownership of economic resources. True Central planning is rooted in the ideology that ________. A In a command economy, the goods and services that a country produces, the quantity in which they are produced, and the prices at which they are sold are planned by ________. A In Country X, all dimensions of economic activity, including pricing and production
decisions, are determined by the central government. Which term best describes Country X? C Which of the following terms refers to an economic system in which the government owns and controls all types of economic activity? A Robert believes that social and economic equality can be obtained only by establishing an economic system in which the government owns and controls all types of economic activity. However, he does not think of himself as a communist, but as a socialist. Which of the following statements about Robert is true? A Both Pat and Terry believe that social and economic equality can be obtained only by establishing an economic system in which the
government owns and controls all types of economic activity. Which of the following statements proves that Pat is a communist and Terry is a socialist? B What do communists and socialists have in common? B The segment of the economic environment comprising independently owned firms that seek to earn profits is called the ________. B Which of the following philosophies asserts that ownership of the means of production
belongs in the hands of individuals and private businesses? A In a market economy, the patterns of resource allocation are most directly influenced by ________. D Scenario: Susan Goes Global with Grape Fizz Susan is the CEO of Grape Fizz, a global drinks-manufacturing company. She wishes to set up production facilities in other countries and has been advised to assess the political system of each country before she does so. Susan thinks that it would be easiest setting up production facilities in a country whose government leaders are elected directly by the wide participation of the people or by their representatives. Which of the following political systems should the country have? B A value-added tax is a tax levied on each party that adds
value to a product throughout its production and distribution. True The U.S. legal system is largely based on ________. A ________ is based on the cumulative wisdom of judges' decisions on individual cases through history. A ________ is a legal system which is based on a detailed set of written rules and statutes that constitute a legal code and it is also based on a codification of what is and is not permissible. B A
legal tradition based on religious teachings is called ________ law. D Laws designed to prevent companies from fixing prices, sharing markets, and gaining unfair monopoly advantages are called ________. A) antitrust laws A Scenario: Susan Goes Global with Grape Fizz Susan is the CEO of Grape Fizz, a global drinks-manufacturing company. She wishes to set up production facilities in other countries and has been advised to assess the political system of each country before she does so. Susan is worried that San Tarino's demand that she must use locally available raw material and employ local workers might interfere with the quality and efficiency of her business. San Tarino, on the
other hand, views this as a way to foster local business activity and lessen regional unemployment. What are these laws called? A Scenario: Stephanie Wong Stephanie Wong, a Chinese-American, owns a consultancy that advises clients on strategies for business expansions into China. Wong is to lead a symposium for small and mid-sized exporters who are planning on expanding their businesses in China. Therefore, she is preparing answers in advance for questions that symposium participants would most likely ask. The first question that Stephanie expects participants to ask is: "Which is more important for the Chinese, contacts or contracts?" Which of the following is the most effective response Stephanie could give for this question? B Which of the following factors should the legal
experts of Wayne's consider while evaluating the legal systems of Paribo and Kirawi? C Which of the following statements is true of Kirawi, a democratic nation whose
legal system is based on common law? D Which of the following statements
is true of Paribo, a democratic nation whose legal system is based on civil law? C Which
of the following, if true, demonstrates that Kirawi has an unstable business environment? B A common law system is based on tradition, judge-made precedent, and usage in which the courts assign a preeminent position to existing case law to guide dispute resolution True Islamic law is the most widely practiced theocratic legal system today. True Which of the following is an important factor in forming successful business ventures in China? D ________
refers to the transfer of ownership of resources from the private to the public sector. A A ________ is a right granted to the inventor of a product or process that excludes others from making, using, or selling the invention. A Expropriation is best defined as the ________. B Shimmer and Sparkle is an American jewelry store which discovers that several shops in developing countries are selling counterfeited necklaces under their name and label. Which of the following problems are they facing? B Which of the following statements referring to
intellectual property rights and violations is INCORRECT? B Which of the following functions does a copyright perform? D Product liability laws are those which ________. A) provide consumers with a wide variety of products at fair prices C On a
recent trip to Hong Kong, a group of tourists found several Prada bags being sold on the pavement. They cost only a few dollars and were clearly fake; though they bore the Prada trademark. This is an example of ________. A) piracy A Scenario: Susan Goes Global with Grape Fizz Susan is the CEO of Grape Fizz, a global drinks-manufacturing company. She wishes to set up production facilities in other countries and has been advised to assess the political system of each country before she does so. Susan finally settles upon Valmira because it has a stable business environment. Which of the following factors, if true, proves her decision to be a good one? B Scenario: Stephanie Wong Stephanie Wong, a Chinese-American, owns a consultancy that advises clients on strategies for business expansions into China. Wong is to lead a symposium for small and mid-sized exporters who are planning on expanding their businesses in China. Therefore, she is preparing answers in advance for questions that symposium participants would most likely ask. Stephanie also expects participants to ask: "Are the Chinese as formal and business-oriented as Americans are?" Which of the following would most likely be Stephanie's response? C Another question that Stephanie anticipates concerns the acceptability of certain topics of discussion like: "Should we avoid discussing our families and spouses?" Which of the
following represents the most effective response to this question? C Trademark
protection typically lasts indefinitely, provided the word or symbol continues to be distinctive. True Product liability laws hold only manufacturers responsible for damage, injury, or death caused by defective products. False Developed nations have the toughest product liability laws, while developed
countries have more relaxed laws. True ________ is the layer of corporate social responsibility whereby a corporation donates money and, perhaps, employee time toward a specific social cause. D ________ is the layer of corporate social responsibility whereby a company develops a code of conduct that it will follow in its global operations and agrees to operate with greater transparency. B ________
is the layer of corporate social responsibility in which a business builds social responsibility into its core operations to create value and build competitive advantage. C Horizon Ltd. is a software company that, over the last year, incorporated social responsibility into its
core operations to create value and build competitive advantage. Which layer of corporate social responsibility does Horizon Ltd. function at? A) risk management C Which of the following philosophies maintains that a company's sole responsibility is to maximize profits for
its owners? C The ________ view states that a company should adopt local ethics wherever it operates because all belief systems are determined within a cultural context. B The ________ view says that a company should maintain its home-country ethics wherever it operates because the home-country's view of ethics and responsibility is superior to others' views. B Which of the following philosophies maintains that a company should maximize "good" outcomes and
minimize "bad" outcomes wherever it operates? D ________ is the environmental impact of greenhouse gases (measured in units of carbon dioxide) that results from human activity. A ________ measures the indirect carbon dioxide emissions from the whole life cycle of products—from their manufacture to eventual breakdown. B Which of the following does the secondary footprint measure? C The cultural relativist view says that a company's sole responsibility is to maximize profits for its owners while operating within the law. False Corporate social responsibility is the practice of going beyond legal obligations to
actively balance commitments to investors, customers, other companies, and communities True Sets found in the same folderInternational Business: The Challenges of Globaliz…110 terms aymaanrehman final exam ch. 792 terms Jessica_Ragan1 International Business Midterm18 terms brittany_nicholls MGMT 3040 test 1281 terms Tyler_Schaefer69 Other sets by this creatorfinal exam ch 1692 terms Jessica_Ragan1 final exam ch 1588 terms Jessica_Ragan1 final exam ch 1491 terms Jessica_Ragan1 final exam ch 1395 terms Jessica_Ragan1 Recommended textbook solutionsAmerican Government1st EditionGlen Krutz 412 solutions American Corrections11th EditionMichael D. Reisig, Todd R. Clear 160 solutions Politics in States and Communities15th EditionSusan A. MacManus, Thomas R. Dye 177 solutions
Politics in States and Communities15th EditionSusan A. MacManus, Thomas R. Dye 177 solutions Other Quizlet setsLesson 1: Background and Introduction to the Novel18 terms JadeRosile Cell Biology: Lecture 1519 terms molly_761562 Module 2 Quiz PSYCH10 terms sammyc35 Law of Agency (Chapter 1, 2 & 3)22 terms co_tarrant Which of the following is a disadvantage of conducting business in totalitarian nations?Which of the following is a disadvantage of conducting business in totalitarian nations? A refusal to pay a bribe can result in the forfeiture of investments in the country.
Which of the following is a disadvantage of local requirement laws to foreign companies?Which of the following is a disadvantage of local requirement laws to foreign companies? Companies required to hire local personnel might be forced to take on inadequately trained workers.
Which of the following terms refers to an economic system in which the government owns and controls?Socialism is, broadly speaking, a political and economic system in which property and the means of production are owned in common, typically controlled by the state or government.
Is the chance that political forces may change a country's business environment?Political risk is the possibility that your business could suffer because of instability or political changes in a country: conflicts and unrest, changes in regime or government, changes in international policies or relations between countries, as well as changes that occur in a country's policies, business laws or ...
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Which of the following is a disadvantage of conducting business in totalitarian nations quizlet?
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