WorksheetsIBI101_National difference in political economy
Total questions: 15
Worksheet time: 8mins
Name
Class
Date
1.
Modern socialism has been popularized largely through the work of _
a)
Adam Smith
b)
Karl Marx
c)
David Hume
d)
Thomas Hobbes
2.
In several Western democracies, the poor performance of state-owned enterprises, because of protection from competition and guaranteed government financial support, led to _____.
a)
privatization
b)
nationalization
c)
liberalization
d)
socialization of production
3.
Which of the following philosophies can be traced back to the ancient Greek philosopher Aristotle?
a)
Socialism
b)
Individualism
c)
Collectivism
d)
Anarchism
4.
Which of the following is a feature of a democracy?
a)
Exercise of absolute control by one person or political party.
b)
Governance by people or elected representatives.
c)
Prohibition of entry to opposing political parties.
d)
Complete restriction of individual political freedom.
5.
Which system of government generally permits some individual economic freedom but restricts individual political freedom, frequently on the grounds that it would lead to the rise of communism?
a)
Tribal totalitarianism
b)
Right-wing totalitarianism
c)
Democratic totalitarianism
d)
Theocratic totalitarianism
6.
Antitrust laws in the United States are designed to:
a)
restrict agricultural subsidies
b)
increase trade barriers.
c)
outlaw monopolies.
d)
restrict privatization.
7.
In a(n) _____ economy the government plans the goods and services that a country produces, the quantity in which they are produced, and the prices at which they are sold.
a)
market
b)
open economy
c)
laissez-faire
d)
command
8.
In which of the following economies would the government be most likely to take into state ownership troubled firms whose continued operation is thought to be vital to national interests?
a)
market economies
b)
open economy
c)
laissez-faire economies
d)
mixed economies
9.
Which of the following statements about the legal systems of countries is true?
a)
They can affect the attractiveness of a country as an investment site or market.
b)
They are not influenced by the prevailing political system of the country
c)
They are almost the same for all countries.
d)
They are of little importance to international business
10.
A civil law system tends to be less adversarial than a common law system because the:
a)
judges' decisions are based on detailed legal codes
b)
judges have the freedom to interpret laws based on the situation.
c)
judges' decisions are based on religious teachings
d)
judges are guided by interpretations made in prior legal cases
11.
A common law system is different from a civil law system because:
a)
a common law system is based on religious teachings, while a civil law system is based on cultural traditions.
b)
a common law system is very rigid, while a civil law system tends to be more flexible.
c)
a common law system is very rigid, while a civil law system tends to be more flexible.
d)
in a common law system a judge has the power to interpret the law, while in a civil law system a judge has the power only to apply the law.
12.
_____ is the collective term for the legal rights relating to the use to which a resource is put and over the use made of any income that may be derived from that resource.
a)
Trade rights
b)
Property rights
c)
Positive rights
d)
Common rights
13.
Violation of property rights done through legal mechanisms such as levying excessive taxation and requiring expensive licenses or permits from property holders is called _____.
a)
private action
b)
collective action
c)
public action
d)
copyright violation
14.
Which of the following areas of international trade is regulated by the Foreign Corrupt Practices Act?
a)
Making and performance of commercial contracts in international trade.
b)
Preventing bribery and unethical acts in the conduct of international business.
c)
Establishing a set of safety standards to which a new product must adhere.
d)
Controlling the mafia activity that hinders trade in Russia, Japan, and the U.S.
15.
A _____ grants the inventor of a new product or process exclusive rights for a defined period of time to the manufacture, use, or sale of that invention.
a)
copyright
b)
trademark
c)
contract
d)
patent
100 %
