30 Questions
Which system emphasizes collective goals over individual goals?
Communism
What is the key difference between democracy and totalitarianism?
Degree of government control
Which two concepts are closely associated with each other in the context of political economy?
Collectivism and democracy
Which of the following is an example of intellectual property?
Patent
Which organization is responsible for protecting intellectual property internationally?
World Intellectual Property Organization
What are the two broad implications for international business discussed in the text?
Ethical issues and attractiveness of a country
Which type of democracy involves citizens electing individuals to represent them?
Representative democracy
Which type of totalitarianism is based on religious principles?
Theocratic totalitarianism
Which economic system is characterized by all productive activities being privately owned and production being determined by supply and demand?
Market economy
Which legal system is based on tradition, precedent, and custom?
Common law
Which political system is assessed according to two dimensions, emphasizing collectivism or individualism and the degree to which they are democratic or totalitarian?
Democracy
According to Karl Marx, in a capitalist society where individual freedoms are not restricted, who benefits at the expense of the many?
The few
Which two concepts are closely associated with each other in the context of political economy?
Democracy and individualism
Which type of legal protection grants exclusive rights to inventors for a defined period?
Patent
What do trademarks refer to?
Officially registered designs and names used to differentiate products
What do product safety laws set for a product?
Safety standards for product manufacturing
What raises ethical issues when doing business abroad?
Political, economic, and legal systems
Which type of legal system is based on religious teachings?
Theocratic law
Which type of totalitarianism generally permits individual economic freedom but restricts individual political freedom?
Right-wing totalitarianism
What is the purpose of the Foreign Corrupt Practices Act (FCPA)?
To combat bribery of foreign public officials
Which two systems are interdependent in political economy?
Political, economic, and legal systems
What is the key difference between collectivism and individualism?
Collectivism emphasizes collective goals over individual goals, while individualism emphasizes individual goals over collective goals
Which two concepts go hand in hand in the context of political economy?
Democracy and individualism
Which of the following legal systems is based on tradition, precedent, and custom?
Common law
What is the purpose of the Foreign Corrupt Practices Act (FCPA)?
To prevent bribery of foreign government officials by companies
Which type of totalitarianism generally permits individual economic freedom but restricts individual political freedom?
Right-wing totalitarianism
Which legal protection grants exclusive rights to authors, composers, playwrights, artists, and publishers?
Copyrights
Which international organization is responsible for protecting intellectual property?
World Intellectual Property Organization
Which laws set certain safety standards to which a product must adhere?
Product safety laws
What raises ethical issues when doing business abroad?
Political, economic, and legal systems
Test your knowledge of political economy and the interdependence of political, economic, and legal systems. Explore the concepts of collectivism and individualism in political systems, and assess the degree of democracy or totalitarianism.
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