Differences in Political Systems Answers

1. The term ______ refers to the interconnection of the political, economic, and legal systems of a country. Multiple choice question. political economy 2. Political systems that emphasize individualism tend to promote _____. Multiple choice question. democracy 3. ______ refers to a political system that values the needs of society over that of an individual. Collectivism 4. Karl Marx would agree that capitalists take the value created by workers for their own use. 5. In the early 20th century, communists differed from social democrats in that communists believed in Multiple choice question. a strategy of revolutionary action. 6. The political economy of a country refers to the interaction of the political, economic, and _____ systems of a country. Legal 7. ______ refers to a political system in which the citizens exercise power directly or elect representatives to form a governing body. Multiple choice question. Democracy 8. The system of government in a nation is called the _____ system. Political 9. In a(n) ______ democracy, elected individuals represent the citizens and make decisions on behalf of the electorate. Multiple choice question. representative 10. Collectivism refers to a political system that restricts an individual's right to do something on the grounds that it runs counter to the "good of society" 11. In a pure ______ economy, all productive activities are owned privately -- not by the state. Multiple choice question. market 12. According to Karl Marx, the pay of workers in a capitalist society reflects the full value of their labor. False 13. What is the objective of a pure command economy? allotment of resources for the overall good of society 14. Social democrats advocate for achieving socialism through non-violent means. 15. Which statement BEST describes a totalitarian system? It is a form of government in which the state recognizes no limits to its authority and strives to regulate all aspects of public and private life. 16. Nations adopting the pure form of democracy would directly involve citizens in the decision making of the country. 17. In a ______ economy, both private enterprise and state ownership co-exist. Mixed 18. The production of goods in a pure market economy are determined by supply and demand. 19. The ______ system of a country refers to the rules, or laws that regulate behavior along with the system that enforces them. legal 20. In a command economy, businesses are owned by _____. the state 21. Select the accurate description of a common law system. A common law system has a degree of flexibility that other legal systems lack. 22. In the early 20th century, communists differed from social democrats in that communists believed in a strategy of revolutionary action. 23. A(n) ______ is a document that specifies the conditions under which an exchange is to occur, detailing the rights and obligations of the involved parties. Contract 24. What are the two ways property rights can be violated? Private & public action 25. Companies wishing to pursue business opportunities in Sweden would find that while some industries are privately owned, others are state-controlled. What type of economy does this represent? mixed 26. ______ property refers to property that is the product of any innovative activity, such as a screenplay, a music score, or the chemical formula for a new drug. Intellectual Reason: Liketheeconomicsystemofacountry,thelegalsystemisinfluencedbytheprevailing politicalsystem. 27. Product ______ is the area of law that that holds a firm and its ofÏcers responsible for injuries caused by their product. Liability 28. A country that bases its laws on the traditions within the country's legal history operates under a _____ law legal system. common 29. What two factors would make a country more desirable to do business with? - market-based economy - democratic political institutions 30. ______ law is the body of law that governs oral and written agreements associated with the exchange of goods, services, money and property. Contract 31. ______ rights determine how a resource or economic good is owned and used. Property 32. Jenner is obtaining a patent for the new diet drink formulation he created. He hopes that Coca Cola and other companies will be interested in licensing his formula. Jenner is protecting his _____ property with the patent. intellectual 33. Several years ago, a customer brought a lawsuit against McDonald's because the coffee she purchased at the drive-thru window was hot when she spilled it on herself in her car. This lawsuit was based on _____. product liability 34. Even though there are many state-owned businesses in China, many Western businesses feel that should still invest in the country because the nation is moving toward a market-based system Differences in Political Systems   Politicalsystems,thesystemsofgovernmentinnations,differfromcountrytocountry.Itisimportantto understandthenatureofdifferentpoliticalsystemsanddevelopanawarenessofandappreciationforthe significanceofnationaldifferences.  Politicalsystemsareassessedaccordingtotwodimensions.Thefirstisthedegreetowhichthey emphasizecollectivismasopposedtoindividualism.Thesecondisthedegreetowhichtheyare democraticortotalitarian.Thesedimensionsareinterrelatedandmaysharecertaincharacteristics.  1. An individual’s right to do something may be restricted on the grounds that it runs counter to “the good of society” when the political system emphasizes Multiple Choice collectivism. 2. Communists believed that socialism could only be achieved through Multiple Choice violent revolution. 3. When Aristotle said that private property is more highly productive than communal property, he was advocating for Multiple Choice individualism. 4. What political system has a government that is by the people, exercised either directly or through elected representatives? Top of Form Multiple Choice democracy 5. A form of government in which political power is monopolized by a party, group, or individual that governs according to religious principles is called what type of totalitarianism? Theocratic 6. In the United States, citizens have the right to elect ofÏcials who make decisions on behalf of the public. This practice is the reason the United States is a representative democracy. 7. James is the warehouse supply manager for a major tool corporation. It is his job to take inventory of the tools the company has available and send orders to make more tools when supplies run low. The supply and demand form of production is and example of a ____ economy. Market 8. A _______economy follows the principles of collectivism as resources are allocated based on "the common good" Command 9. In the country of Doran, all businesses are owned by the state. The government plans production, fixes commodity prices, and also directs investments to ensure they benefit the nation as a whole and not only a few individuals. What type of economy has the country of Doran adopted? command 10. In a pure command economy, the prices at which goods and services are sold are planned by the Government 11. Members of the legal profession would refer to tradition, precedent, and custom in a(n) ________ law system. common 12. As a judge in France, Maurice is not allowed to interpret the law but relies on a strict set of codes to determine the outcome of a case. Which type of law is in place in France? civil law system 13. AllSpice Incorporated plans to do business with a company located in the Leone Republic, a common law country. The companies have agreed to draft the business contract in the Leone Republic. Since the contract will be drafted under a common law framework, what best characterizes the contract? very detailed with all contingencies spelled out 14. The state senator was found guilty of ________ when she tried to extort money from an international business that wanted to open a manufacturing plant in her state. Multiple Choice c. public action 15. A payment made to expedite or to secure the performance of a routine governmental action is called a Multiple Choice grease payment. 16. HealthWise Corporation has developed a new diet supplement to assist with weight loss. Which type of legal protection grants HealthWise Corporation exclusive rights for a defined period to the manufacture, use, or sale of this new diet supplement? patent 17. A country that has lax intellectual property laws will find that b. firms will be reluctant to enter into such a country. 18. Marietta told the management team that the company would have to find a new way to produce the vitamin because the Food and Drug Administration had recently banned "nofon," the key ingredient in their product. The standard set by the FDA is a type of product safety law. 19. TimeForce, a U.S. based company is planning to expand operations to a foreign country. Considering the factors that make a country attractive as a place in which to do business, which country should TimeForce consider entry? Country D, which has Democratic institutions and a market-based economic system 20. The United Nations Convention on Contracts for the International Sale of Goods (CISG) was introduced to resolve disputes that arise in international trade regarding which country's laws to apply.