Political Economy and Interdependence Quiz

Which of the following is NOT a form of intellectual property?

Product liability

What is the purpose of product safety laws?

To set safety standards for products

Which international organization aims to protect intellectual property?

World Intellectual Property Organization

What does the Paris Convention for the Protection of Industrial Property do?

Protects intellectual property Signup and view all the answers

What raises important ethical issues in international business?

Political, economic, and legal systems Signup and view all the answers

Which type of legal system makes a country more attractive for doing business?

All of the above Signup and view all the answers

What are trademarks used for?

Differentiating products Signup and view all the answers

What is the purpose of copyrights?

Protecting intellectual property Signup and view all the answers

What is the purpose of patents?

Protecting intellectual property Signup and view all the answers

What does product liability involve?

Holding a firm responsible for injury or damage caused by a product Signup and view all the answers

Which type of democracy restricts individual political freedom, including free speech, on the ground that it would lead to the rise of communism?

Tribal totalitarianism Signup and view all the answers

Which economic system is characterized by all productive activities being privately owned and production being determined by supply and demand?

Market economy Signup and view all the answers

Which legal system is based on tradition, precedent, and custom, and is more flexible than other systems?

Common law Signup and view all the answers

Which type of law is based on religious teachings, with Islamic law being the most common example?

Theocratic law Signup and view all the answers

Under which legal system are contracts very detailed with all contingencies spelled out, making them more expensive and potentially adversarial?

Common law Signup and view all the answers

Which convention establishes a uniform set of rules governing certain aspects of the making and performance of everyday commercial contracts between sellers and buyers from different nations?

United Nations Convention on contracts for the international sale of goods (CISG) Signup and view all the answers

What are property rights?

Legal rights over the use of resources Signup and view all the answers

Which type of corruption involves public officials extorting income, resources, or property, either legally or illegally?

Public action and corruption Signup and view all the answers

Which act makes it illegal to bribe a foreign government official to obtain or maintain business, and requires publicly traded companies to keep detailed records?

Foreign Corrupt Practices Act (FCPA) Signup and view all the answers

What is intellectual property?

Property that is the product of intellectual activity Signup and view all the answers

Which of the following best defines political economy?

The study of the interdependence between political, economic, and legal systems in a country Signup and view all the answers

What are the two dimensions used to assess political systems?

Emphasis on collectivism or individualism and emphasis on democracy or totalitarianism Signup and view all the answers

Which of the following best describes collectivism?

Emphasizes collective goals over individual goals Signup and view all the answers

According to Karl Marx, in a capitalist society where individual freedoms are not restricted, who benefits at the expense of the many?

The few benefit at the expense of the many Signup and view all the answers

Which of the following best describes individualism?

Emphasizes individual goals over collective goals Signup and view all the answers

What is the main difference between democracy and totalitarianism?

Democracy allows opposing political parties, while totalitarianism prohibits opposing political parties Signup and view all the answers

Which two concepts go hand in hand according to the text?

Democracy and individualism Signup and view all the answers

Which of the following is NOT a characteristic of democracy?

Absolute control over all spheres of human life Signup and view all the answers

Which of the following is the best definition for political systems?

The system of government in a nation Signup and view all the answers

According to the text, what is the main focus of collectivism?

Public ownership of the means of production Signup and view all the answers