Podcast
Questions and Answers
What is the primary belief of anarchism regarding public government?
What is the primary belief of anarchism regarding public government?
Which political ideology seeks to control every aspect of people's lives?
Which political ideology seeks to control every aspect of people's lives?
What are the core elements that define a political system?
What are the core elements that define a political system?
Which of the following is a characteristic of totalitarian political systems?
Which of the following is a characteristic of totalitarian political systems?
Signup and view all the answers
A country’s economic system reflects what values?
A country’s economic system reflects what values?
Signup and view all the answers
Which political systems are included under pluralistic political systems?
Which political systems are included under pluralistic political systems?
Signup and view all the answers
How does totalitarianism differ from anarchism?
How does totalitarianism differ from anarchism?
Signup and view all the answers
Which of these is NOT a type of economic system?
Which of these is NOT a type of economic system?
Signup and view all the answers
What is one potential disadvantage of a market economy?
What is one potential disadvantage of a market economy?
Signup and view all the answers
How does a market economy primarily determine the prices of goods?
How does a market economy primarily determine the prices of goods?
Signup and view all the answers
What can excessive government intervention in a market economy lead to?
What can excessive government intervention in a market economy lead to?
Signup and view all the answers
What role does the profit motive play in a market economy?
What role does the profit motive play in a market economy?
Signup and view all the answers
Which aspect of a country's legal system is influenced by its political system?
Which aspect of a country's legal system is influenced by its political system?
Signup and view all the answers
In what way does consumer choice affect producers in a market economy?
In what way does consumer choice affect producers in a market economy?
Signup and view all the answers
What is a common feature of a market economy regarding ownership of resources?
What is a common feature of a market economy regarding ownership of resources?
Signup and view all the answers
What can a legal system based on religious teachings imply for a country?
What can a legal system based on religious teachings imply for a country?
Signup and view all the answers
What is the primary function of the World Intellectual Property Organization?
What is the primary function of the World Intellectual Property Organization?
Signup and view all the answers
Which type of law is primarily associated with protecting intellectual property rights?
Which type of law is primarily associated with protecting intellectual property rights?
Signup and view all the answers
Which of the following best defines 'industrial property'?
Which of the following best defines 'industrial property'?
Signup and view all the answers
What is the primary purpose of antitrust regulations?
What is the primary purpose of antitrust regulations?
Signup and view all the answers
What does the term 'copyright' protect?
What does the term 'copyright' protect?
Signup and view all the answers
Which of the following is not typically considered a form of taxation?
Which of the following is not typically considered a form of taxation?
Signup and view all the answers
What is value added tax (VAT) applied to in a production process?
What is value added tax (VAT) applied to in a production process?
Signup and view all the answers
Which of the following is a key characteristic of property rights?
Which of the following is a key characteristic of property rights?
Signup and view all the answers
What does a patent exclude others from doing?
What does a patent exclude others from doing?
Signup and view all the answers
What symbol typically denotes a copyright?
What symbol typically denotes a copyright?
Signup and view all the answers
What is corporate social responsibility (CSR) primarily focused on?
What is corporate social responsibility (CSR) primarily focused on?
Signup and view all the answers
Which of the following is NOT a function of trademarks?
Which of the following is NOT a function of trademarks?
Signup and view all the answers
What is considered an ethical dilemma?
What is considered an ethical dilemma?
Signup and view all the answers
What responsibility does product liability impose on manufacturers?
What responsibility does product liability impose on manufacturers?
Signup and view all the answers
What happens to a patent once it expires?
What happens to a patent once it expires?
Signup and view all the answers
Why should a company adopt local ethics wherever it operates?
Why should a company adopt local ethics wherever it operates?
Signup and view all the answers
What does ethical behavior primarily involve?
What does ethical behavior primarily involve?
Signup and view all the answers
Which layer of Corporate Social Responsibility (CSR) involves companies donating money to social causes?
Which layer of Corporate Social Responsibility (CSR) involves companies donating money to social causes?
Signup and view all the answers
How does risk management relate to corporate conduct?
How does risk management relate to corporate conduct?
Signup and view all the answers
What does strategic CSR aim to achieve?
What does strategic CSR aim to achieve?
Signup and view all the answers
What is a characteristic of the cultural relativism view in business ethics?
What is a characteristic of the cultural relativism view in business ethics?
Signup and view all the answers
What does the Righteous Moralist view suggest about a company's ethical standards?
What does the Righteous Moralist view suggest about a company's ethical standards?
Signup and view all the answers
Which of the following is NOT a benefit of considering cultural preferences in business practices?
Which of the following is NOT a benefit of considering cultural preferences in business practices?
Signup and view all the answers
Corporate Social Responsibility extends beyond which of the following?
Corporate Social Responsibility extends beyond which of the following?
Signup and view all the answers
Study Notes
Political Systems
- Political systems are the structures, processes, and activities that govern a nation.
- A nation's political system is shaped by history, culture, demographics, and socioeconomic factors.
- Three major political ideologies are: Anarchism, Totalitarianism, and Pluralism.
Anarchism
- Anarchism views public government as unnecessary and unwanted because it infringes on personal liberties.
- Anarchists believe in self-governance and abolishing government.
Totalitarianism
- Totalitarianism mandates complete government control over all aspects of citizens' lives.
- It is characterized by strong central rule through coercion and repression.
- Examples include authoritarian regimes such as communism and fascism.
Pluralism
- Pluralism embraces diverse cultural groups within society, such as religious groups, unions, professional organizations, and ethnic minorities.
- These groups exert influence within the political system, creating a system of checks and balances.
- Pluralistic systems include democracies, constitutional monarchies, and some aristocracies.
Economic Systems
- A country's economic system determines the allocation of resources and the conduct of commercial activities.
- Economic systems reflect a nation's cultural values, tending toward either individualist or collectivist approaches.
- Three types of economic systems exist: Centrally Planned Economy, Mixed Economy, and Market Economy.
Centrally Planned Economy
- This system is controlled by the government, which dictates production, pricing, and distribution.
- All resources are owned by the government, and businesses are state-owned.
Mixed Economy
- A combination of private and public ownership and control of resources.
- The government plays a significant role in regulating and directing the economy.
Market Economy
- Most resources are privately owned by individuals or businesses.
- Prices are determined by the interplay of supply and demand.
- The private sector makes key decisions on production, pricing, and distribution.
Advantages of Market Economy
- Innovation: Competition and profit motive lead to new products, services, and technologies, boosting the standard of living.
- Consumer Choice: Consumers have a wide variety of goods and services, driving producers to improve their offerings.
Disadvantages of Market Economy
- Income Inequality: Market forces can exacerbate wealth disparities.
- Economic Cycles: Market economies are prone to economic fluctuations, like boom-and-bust cycles, leading to recessions, unemployment, and inflation.
Legal Systems
- A country's legal system comprises laws, regulations, processes for enacting and enforcing laws, and procedures for holding individuals accountable.
- The legal system is closely connected to the political system.
- Legal systems are influenced by political trends and nationalist movements.
Common Law
- A legal system based on historical tradition, legal precedent (case law), and judicial decisions.
- Judges play a significant role in interpreting and applying law.
- Examples include the United Kingdom, Canada, and the United States.
Civil Law
- A legal system based on a codified body of laws organized in a structured code.
- Judges apply the written laws to specific cases.
- Examples include France, Germany, and China.
Theocratic Law
- A legal system based on religious teachings.
- Laws are derived from religious doctrines, scriptures, and interpretations by religious authorities.
- Examples include Saudi Arabia, Iran, and Vatican City.
Global Legal Issues
- International businesses face specific legal challenges that transcend national boundaries.
- Key legal issues include intellectual property protection, property rights, product safety and liability, taxation, and antitrust regulations.
Intellectual Property
- Intellectual property is the result of human creativity and innovation.
- It is protected to secure rights for creators and owners and encourage further innovation.
- Examples include patents, trademarks, and copyrights.
World Intellectual Property Organization (WIPO)
- WIPO is an international organization that protects intellectual property rights worldwide, promoting creativity and innovation.
Property Rights
- Legal rights to resources and any income generated from them.
- Industrial property includes patents and trademarks, crucial assets for many businesses.
Patents
- Grants inventors exclusive rights to make, use, or sell an invention.
- They protect innovative products and processes for a limited period.
Trademarks
- Distinguish a product and its manufacturer.
- They help consumers identify specific brands and sources.
Copyrights
- Provide protection for original works of authorship, such as books, music, and art.
- They allow creators to publish and dispose of their works freely.
Product Safety and Liability
- Product safety laws establish standards for manufactured products to protect consumers.
- Product liability refers to the responsibility of manufacturers, sellers, and individuals for defective products that cause harm.
Taxation
- Taxes levied on income, sales, and consumption.
- Income and sales taxes directly affect individuals and businesses.
- Value-added tax (VAT) is applied at each stage of production and distribution.
Antitrust Regulations
- Promote fair competition, ensuring a wide variety of products at reasonable prices.
- They prevent monopolies and anti-competitive practices.
Ethics and Social Responsibility
- Ethical behavior aligns with guidelines for good conduct and morality.
- Ethical dilemmas involve choices with no clear right or wrong answer, requiring consideration from different perspectives.
- Corporate social responsibility (CSR) goes beyond legal obligations to balance commitments to investors, customers, other businesses, and communities.
Business Ethics
- Moral principles and values that guide ethical behavior in business.
Corporate Social Responsibility (CSR)
- Demonstrates a commitment to the greater good, balancing interests of various stakeholders.
CSR Three Layers of Activity
- Traditional philanthropy: Donating money and employee time to social causes.
- Risk management: Operating ethically with transparency and a code of conduct.
- Strategic CSR: Integrating social responsibility into core operations for competitive advantage.
Philosophies of Ethics and Social Responsibility
- Ethical Relativism: Acceptable behavior is determined by cultural context.
- Righteous Moralist: Home-country ethical standards should be followed globally.
Ethical Behavior
- Personal actions aligned with ethical guidelines and morality.
Cultural Relativism View
- Different cultures have different ethical norms, and what may be acceptable in one culture may be unethical in another.
Righteous Moralist View
- Businesses should maintain their home country's ethical standards when operating globally, regardless of local norms.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
Test your knowledge on various political systems and ideologies. This quiz covers key concepts such as Anarchism, Totalitarianism, and Pluralism, exploring their impacts on governance and society. Understanding these elements is crucial to grasping the complexities of political science.
