QUESTION In practical terms, which of the following translates into an advocacy for democratic ideals and free market economics, which in general creates the most favorable environment for international businesses to operate in? A. Collectivism B. Totalitarianism C. Individualism D. Communism E. Socialism ANSWER C In practical terms, individualism translates into an advocacy for […]
QUESTION Which of the following is a feature of representative democracy? A. Restrictions on an individual’s right to freedom of expression, opinion, and organization B. Inability of the citizens to vote out elected representatives who fail to perform their job adequately at the next election C. An unlimited term for elected representatives D. A court […]
QUESTION Which of the following is a form of government in which one person or political party exercises absolute control over all spheres of human life and prohibits opposing political parties? A. Capitalism B. Totalitarianism C. Pure democracy D. Republicanism E. Representative democracy ANSWER B Totalitarianism is a form of government in which one […]
QUESTION Democracy, in its purest form, is based on the belief that: A. citizens should be directly involved in decision making. B. political freedom of the citizens should be limited. C. citizens are responsible for their own economic health and thus need no government. D. individual freedom in the economic sphere should be restricted. E. […]
QUESTION Which of the following applies to most totalitarian states? A. Free and fair elections are not denied to the citizens. B. There is free access to state information. C. All the basic civil liberties are granted to the citizens. D. The right to freedom of expression and organization is not curbed. E. Media are […]
QUESTION Which of the following is a form of totalitarianism which advocates that socialism can be achieved only through a totalitarian dictatorship? A. Tribal totalitarianism B. Democratic totalitarianism C. Communist totalitarianism D. Theocratic totalitarianism E. Right-wing totalitarianism ANSWER C Communist totalitarianism is a form of totalitarianism that advocates achieving socialism through totalitarian dictatorship.
QUESTION Command economies provide a more favorable environment for innovation and entrepreneurs than market economies. Indicate whether the statement is true or false. ANSWER FALSE In a command economy, state-owned enterprises have little incentive to control costs and be efficient, because they cannot go out of business. Also, the abolition of private ownership means […]
QUESTION By adopting the Contracts for the International Sale of Goods (CIGS), a nation signals to other adopters that it will treat the convention’s rules as part of its law. Indicate whether the statement is true or false. ANSWER TRUE By adopting the CIGS, a nation signals to other adopters that it will treat […]
QUESTION When firms do not wish to accept the Contracts for the International Sale of Goods, they often opt for arbitration by a recognized arbitration court to settle contract disputes. Indicate whether the statement is true or false. ANSWER TRUE When firms do not wish to accept the Contracts for the International Sale of […]
QUESTION Intellectual property laws stimulate innovation and creative work. Indicate whether the statement is true or false. ANSWER TRUE The philosophy behind intellectual property laws is to reward the originator of a new invention, book, musical record, clothes design, restaurant chain, and the like, for his or her idea and effort. Such laws stimulate […]
