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88) Judges in a(n) ________ system have the power to interpret the law so that it applies to the
unique circumstances of an individual case.
A) civil law
B) international law
C) common law
D) theocratic law
89) The most widely practiced theocratic legal system in the modern world is
A) Christian.
B) Hindu.
C) Jewish.
D) Islamic.
90) In the 1970s, the United States ________, which requires all publicly traded companies,
whether or not they are involved in international trade, to keep detailed records that would reveal
whether a violation of the act has occurred.
A) adopted the Convention on Combating Bribery of Foreign Public Officials in International
Business Transactions policy
B) passed the Foreign Corrupt Practices Act
C) joined Transparency International
D) joined the Organisation for Economic Co-operation and Development (OECD)
91) A law system that is based on a detailed set of laws organized into codes is
A) municipal.
B) contract.
C) civil.
D) common
92) Although many countries have stringent intellectual property regulations on their books, the
enforcement of these regulations has often been lax. This has been the case even among many of
the 185 countries that are now members of the ________, all of which have signed international
treaties designed to protect intellectual property.
A) World Intellectual Property Organization
B) General Agreement on Tariffs and Trade
C) Business Software Alliance
D) Trade-Related Aspects of Intellectual Property Rights (TRIPS)
93) The ________ associated with doing business in a country are a function of that country's
political, economic, and legal systems.
A) ethical considerations
B) profitability
C) simplicity and ease
D) benefits, costs, and risks
94) Why did Karl Marx criticize capitalism? Describe how he planned to correct those
shortcomings.
95) Discuss collectivism. What ideals does the philosophy support? Where did the philosophy
start? How does collectivism exist in the modern world?
96) What are state-owned companies? Why do they usually perform poorly?
97) Discuss individualism. Explain the key positions of the philosophy, it roots, and its role in the
modern economy.
98) Compare and contrast a pure democracy and a representative democracy. Which type of
democracy is more common today? Why?
99) Compare and contrast the four forms of totalitarianism.
100) Identify the three types of economic systems. How do these three types of economic systems
differ from each other? How are they the same?
101) Discuss why there is inefficiency in a monopoly situation. What is the role of the government
in such a situation?
102) Discuss the effects of private ownership of production in a market economy.
103) What is a country's legal system? Why is it important to international businesses?
104) Explain the differences between common law and civil law systems by the approach of each
to contract law.
105) Discuss the ways in which public action to violate property rights can occur.
106) What factors contribute to the attractiveness of a country as a market or investment site
107) Discuss the key factors that companies must be aware of before deciding to do business in
other countries.
