Quiz 3- National Business Environment

Which of the following is a key feature of a totalitarian political system?

• Freedom of expression and periodic elections

• Power is acquired and retained through military force or fraudulent elections

• Strong protection of minority rights

• Wide participation of the people in government decisions

Which type of economic system is characterized by government ownership of land, factories, and resources, with nearly all economic activity planned by the state?

• Market economy

• Mixed economy

• Centrally planned economy

• Free-market capitalism

In a democratic political system, which of the following is NOT typically present?

• Periodic elections

• Minority rights

• Restricted political participation

• Freedom of expression

Which of the following legal systems is based on detailed written rules and statutes that constitute a legal code?

• Common law

• Civil law

• Theocratic law

• Socialist law

Which of the following is an example of intellectual property?

• Factory machinery

• Land and buildings

• Graphic designs and computer software

• Raw materials

What does the term "corporate social responsibility" refer to?

• Maximizing profits at all costs

• A company's obligation to balance commitments to stakeholders beyond legal requirements

• Strict adherence to only legal business practices

• Focusing solely on investor returns

What is the main concern regarding product safety and liability in global business?

• Ensuring that competitors do not copy product designs

• Responsibility for damages, injury, or death caused by defective products

• Regulating advertising strategies to target international markets

• Managing trade agreements between countries

Which of the following is an ethical issue in global business?

• Export tariffs and import quotas

• Labor conditions and human rights abuses

• Government subsidies for businesses

• International banking regulations

Which ethical perspective suggests that a company should follow the local ethical norms of the country in which it operates?

• Righteous moralist

• Universalist

• Cultural relativist

• Ethical absolutist

Which of the following best describes "fair trade" practices?

• Prioritizing profit over worker conditions

• Ensuring producers receive fair prices and supporting sustainable business practices

• Engaging in free-market capitalism without regulations

• Removing tariffs and quotas to encourage global trade