Exam 2: National Differences in Political Economy

When _____ is emphasized,the needs of society as a whole are generally viewed as being more important than individual freedoms.

In comparison to market economies,command economies lack:

States that limit the freedom of religious expression with laws based on religious principles,most likely follow the political system of:

_____ laws hold a firm and its officers responsible when a product causes injury,death,or damage.

Which of the following terms refers to a political system in which government is by the people,exercised either directly or through elected representatives?

Private action to violate property rights occurs when public officials,such as politicians and government bureaucrats,extort income,resources,or the property itself from property holders.

Which of the following systems is a part of the political economy?

Who among the following can claim product liability from the offender?

In the 1970s,the United States passed the _____ following revelations that U.S.companies had bribed government officials in foreign countries in an attempt to win lucrative contracts.

As per the U.S.law and OECD convention,which of the following will most likely to be considered as a grease payment?

Grease payments are technically _____.

Briefly discuss product safety and liability laws.

When state officials,such as politicians and government bureaucrats,violate property rights by extorting income,resources,or the property itself from property holders,it is described as:

The Republic Of Marwa has decided to open its economy to globalization.Which of the following will facilitate this decision of Marwa?

How does a common law system differ from a civil law system?

In a totalitarian country,all the constitutional guarantees on which representative democracies are built-an individual's right to freedom of expression and organization,a free media,and regular elections-are denied to the citizens.

When firms do not wish to accept the rules of the CIGS,they often opt for _____ to settle contract disputes.

By the mid-1990s,communism was rising worldwide.

Political systems that emphasize collectivism tend to be democratic,while political systems that place a high value on individualism tend to be totalitarian.

Discuss why supply must not be restricted for a pure market economy to function.