Stack #2545719
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
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| show | - the political, economic, and legal systems of a country
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| show | - system of government in a nation
(collectivism vs. individualism & democratic vs. totalitarian)
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| Collectivism | show 🗑
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| show | - someone who believes in public ownership of the means of production for the common good of society (Karl Marx)
- state-owned enterprises should be managed to benefit society as a whole, rather than individual capitalists
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| show | - those who believe socialism can be achieved only through revolution and totalitarian dictatorship
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| Social Democrats | show 🗑
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| Privatization | show 🗑
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| Individualism | show 🗑
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| show | - political system in which government is by the people, exercised either directly or through elected representatives
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| show | - a political system in which citizens periodically elect individuals to represent them in government
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| show | 1. individual's right to freedom of expression, opinion, and organization
2. free media
3. regular elections in which all eligible citizens are allowed to vote
4. universal adult suffrage
5. limited terms for elected representatives
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| show | 6. a fair court system that is independent from the political system
7. a non-political state bureaucracy
8. a non-political police force and armed service
9. relatively free access to state information
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| show | - form of government in which one person or political party exercises absolute control over all spheres of human life and opposing political parties are prohibited
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| Communist Totalitarianism | show 🗑
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| Theocratic Totalitarianism | show 🗑
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| show | - a political system in which a party, group, or individual that represents the interests of a particular tribe (ethnic group) monopolizes political power
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| show | a political system in which political power is monopolized by a party, group, or individual that generally permits individual economic freedom, no individual political freedom, including free speech, on the grounds that it would lead to the rise of commun
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| Market Economy | show 🗑
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| show | - an economic system where the allocation of resources, including determination of what goods and services should be produced, and in what quantity, is planned by the government
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| Mixed Economy | show 🗑
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| show | - system of rules that regulate behavior and the processes by which the laws of a country are enforced and through which redress of grievance is obtained
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| Common Law | show 🗑
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| Civil Law System | show 🗑
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| show | - a system of law based on religious teachings
- primarily moral and intended to govern all aspects of life
(Islamic law, Hindu law, Jewish law)
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| Contract | show 🗑
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| Contract Law | show 🗑
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| United Nations Convention on Contracts for the International Sale of Goods (CIGS) | show 🗑
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| Property Rights | show 🗑
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| show | - the theft, piracy, blackmail, and the like by private individuals or groups (Mafia in Russia)
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| show | - the extortion of income or resources of property holders by public officials, such as politicians and government bureaucrats (levying excessive taxation, requiring expensive licenses, taking assets into state ownership without compensation,redistributin
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| Transparency International | show 🗑
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| Foreign Corrupt Practices Act | show 🗑
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| Foreign Corrupt Practices Act | show 🗑
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| Grease payments/ speed money (exceptions to FCPA) | show 🗑
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| Intellectual Property | show 🗑
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| Patents | show 🗑
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| show | exclusive legal rights of authors, composers, playwrights, artists, and publishers to publish and disperse their work as they see fit
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| Trademarks | show 🗑
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| World Intellectual Property Organization | show 🗑
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| show | - international agreement to protect intellectual property
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| Product Safety Laws | show 🗑
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| Product Liability | show 🗑
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| Summary: How the political,economic and legal system of countries varies. The potential benefits cost and risk of doing business in a country are a function of its political, economic and legal systems. | show 🗑
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| Collectivism is an ideology that views the needs of society as being important than the needs of the individual. It translates into an advocacy of state intervention in economic activity, and in communism a totalitarian dictatorship | show 🗑
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| Democracy and totalitarianism are at different ends of the political spectrum. In a democracy, citizens periodically elect individuals to represent them and political freedom are guaranteed by a constitution. | show 🗑
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| show | In a command economy, prices are set by planners productive assets are owned by the state and private ownership is forbidden.In Mixed economy both elements are present.
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| Differences in the structure of law countries can have important implications for the practice international business. | show 🗑
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Created by:
Syl593