The Legal Environment Quiz

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Questions and Answers

What are the three components of modern legal systems?

  • Commercial law, Customary law, and International law
  • Constitutional law, Criminal law, and Civil and Commercial law (correct)
  • Civil law, Common law, and Theocratic law
  • Constitutional law, Criminal law, and Human rights law

Which type of legal system is based on a detailed set of laws that comprise a code?

  • Theocratic law
  • Common law
  • Civil law (correct)
  • Customary law

Which countries are examples of common-law nations?

  • France, Germany, and Japan
  • Australia, Canada, and the United States (correct)
  • China, India, and Russia
  • Iran, Saudi Arabia, and Pakistan

What is the basis of Theocratic law?

<p>Religious precepts (D)</p> Signup and view all the answers

What is the role of courts in Common law systems?

<p>To interpret the law (B)</p> Signup and view all the answers

What type of legal system is based on daily experience or great spiritual or philosophical traditions?

<p>Customary law (B)</p> Signup and view all the answers

What is a characteristic of a mixed legal system?

<p>It combines two or more legal systems within a single country (A)</p> Signup and view all the answers

In which countries are most mixed legal systems found?

<p>Africa and Asia (A)</p> Signup and view all the answers

What is a key factor in shaping a country's legal system and business regulations?

<p>Per capita income (B)</p> Signup and view all the answers

What is a common legal contingency that affects international competitors' strategic plans?

<p>Product regulation (D)</p> Signup and view all the answers

Which of the following is a consequence of a country making it easy to start a business?

<p>Fewer and simpler regulations for hiring and firing workers (D)</p> Signup and view all the answers

What is a common goal of country-of-origin labeling policies?

<p>To support local producers (A)</p> Signup and view all the answers

What is the primary function of a political system?

<p>To integrate various parts of a society into a viable, functioning entity (C)</p> Signup and view all the answers

What is the ultimate test of any political system?

<p>Its ability to hold a society together (B)</p> Signup and view all the answers

What is the main consideration for MNEs operating internationally?

<p>Differences in political and legal environments (B)</p> Signup and view all the answers

What is the significance of understanding the political environment for MNEs?

<p>It allows MNEs to assess the fit between their corporate policies and the political conditions of a country (B)</p> Signup and view all the answers

What is the primary distinction between individualism and collectivism?

<p>The importance of individual rights versus collective rights (A)</p> Signup and view all the answers

What is the impact of changes in a country's political system on MNEs?

<p>It exposes MNEs to risks arising from changes in the political system (B)</p> Signup and view all the answers

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