18 Questions
What are the three components of modern legal systems?
Constitutional law, Criminal law, and Civil and Commercial law
Which type of legal system is based on a detailed set of laws that comprise a code?
Civil law
Which countries are examples of common-law nations?
Australia, Canada, and the United States
What is the basis of Theocratic law?
Religious precepts
What is the role of courts in Common law systems?
To interpret the law
What type of legal system is based on daily experience or great spiritual or philosophical traditions?
Customary law
What is a characteristic of a mixed legal system?
It combines two or more legal systems within a single country
In which countries are most mixed legal systems found?
Africa and Asia
What is a key factor in shaping a country's legal system and business regulations?
Per capita income
What is a common legal contingency that affects international competitors' strategic plans?
Product regulation
Which of the following is a consequence of a country making it easy to start a business?
Fewer and simpler regulations for hiring and firing workers
What is a common goal of country-of-origin labeling policies?
To support local producers
What is the primary function of a political system?
To integrate various parts of a society into a viable, functioning entity
What is the ultimate test of any political system?
Its ability to hold a society together
What is the main consideration for MNEs operating internationally?
Differences in political and legal environments
What is the significance of understanding the political environment for MNEs?
It allows MNEs to assess the fit between their corporate policies and the political conditions of a country
What is the primary distinction between individualism and collectivism?
The importance of individual rights versus collective rights
What is the impact of changes in a country's political system on MNEs?
It exposes MNEs to risks arising from changes in the political system
Test your knowledge of the legal system, including constitutional law, criminal law, and civil and commercial law. Learn how countries regulate business practices and define the rights and obligations of businesses. Explore the different types of legal systems and their components.
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