Exam 3: Politics, Law, and Business Ethics

A country's ________ consists of its set of laws and regulations, including the processes by which they are enacted and enforced and the ways in which its courts hold parties accountable for their actions.

A tax levied on each party that adds value to a product throughout its production and distribution is called a ________ tax.

A copyright is granted for ________ but not for ________.

A value-added tax is a tax levied on each party that adds value to a product throughout its production and distribution.

Under which of the following political systems are government leaders elected directly by the wide participation of the people or by their representatives?

Explain each of the four means of incorporating risk into business strategies when companies employ an adaptation strategy.

Under common law, the justice system decides cases by interpreting the law on the basis of tradition, precedent, and usage.

Which of these political systems include regimes such as communism and fascism?

Anarchism is the belief that every aspect of people's lives must be controlled in order for a nation's political system to be effective.

The devotion of a people to their nation's interest and advancement is referred to as ________.

Compare and contrast the world's three main political ideologies: anarchism, totalitarianism, and pluralism.

Nationalism typically involves intense national loyalty and cultural pride, but is rarely associated with drives toward national independence.

Freedom of expression ideally grants the right to voice opinions freely and without fear of punishment.

A political system can be characterized by who participates in it and to what extent they participate.

________ insures U.S. companies that invest abroad against loss and can provide project financing.

Expropriation involves the forced transfer of assets from a company to the government without compensation.

Define intellectual property and the importance of property rights in international business.

The "four tigers" of Asia Hong Kong, Singapore, South Korea, and Taiwan built strong market economies in the absence of truly democratic practices.

When a firm contributes money for building schools and hospitals in a country or a region, it is using the development assistance strategy to adapt to and incorporate risk.

Lobbying is the policy of hiring people to represent a company's views on political matters.