MGT361 Chapter 7: Legal & Political Force

Common law is primarily based on ________.

• actions taken by government legislatures

• the cumulative wisdom of judges' decisions on individual cases through history

• a codification of what is and is not permissible

• the officially established rules governing the faith and practice of a particular religion

Civil law is primarily based on ________.

• actions taken by local governments

• the cumulative wisdom of judges' decisions on individual cases through history

• a codification of what is and is not permissible

• the officially established rules governing the faith and practice of a particular religion

Religious law is primarily based on ________.

• legislative actions

• judges' court decisions

• codifications of permissible acts

• officially established rules governing a faith

In Iran, the religious law is based on the teachings of the ________.

• Bible

• Quran

• Buddha

• Napoleonic Code

Under which type of legal system can contracts be broken at the whim of those in power?

• religious law

• common law

• bureaucratic law

• civil law

A country restricting access to high-technology goods or withdrawing preferential tariff treatments is using ________.

• embargoes

• trade limits

• sanctions

• extraterritoriality

The United States restricts all trade with Cuba. This is an example of a(n) ________.

• boycott

• tariff

• embargo

• ban

A country that attempts to regulate business activities that are conducted outside its borders is using ________.

• extraterritoriality

• embargoes

• sanctions

• boycotts

_____________refers to the transfer of ownership of resources from the private to the public sector.

• Nationalization

• Expropriation

• Federalization

• Conversion

Privatization is ________.

• the transfer of ownership of resources from the public to the private sector

• a government's regulation of business activities outside its borders

• nationalization without compensation

• nationalization with compensation