Business

A common law system tends to be less adversarial than a civil law syst

QUESTION A common law system tends to be less adversarial than a civil law system. Indicate whether the statement is true or false.   ANSWER FALSE A civil law system tends to be less adversarial than a common law system, since the judges rely upon detailed legal codes rather than interpreting tradition, precedent, and custom.

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Date: September 3rd, 2020

The needs of society as a whole are generally viewed as being more imp

QUESTION The needs of society as a whole are generally viewed as being more important than individual freedoms when the emphasis is on: A. democracy. B. collectivism. C. individualism. D. capitalism. E. privatization.   ANSWER B Collectivism refers to a political system that stresses the primacy of collective goals over individual goals. When collectivism is […]

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Date: September 3rd, 2020

When law courts interpret civil law, they do so with regard to traditi

QUESTION When law courts interpret civil law, they do so with regard to tradition, precedent, and custom. Indicate whether the statement is true or false.   ANSWER FALSE A civil law system is based on a detailed set of laws organized into codes. When law courts interpret civil law, they do so with regard to […]

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Date: September 3rd, 2020

In the country of Normian Republic, an individual’s right to own land

QUESTION In the country of Normian Republic, an individual’s right to own land is restricted to a large extent on the basis that it runs counter to “the common good.” In this context, which of the following is most likely to be the political system adopted by Normian Republic? A. Individualism B. Democracy C. Collectivism […]

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Date: September 3rd, 2020

Which of the following was advocated by Karl Marx? A. Capitalist soci

QUESTION Which of the following was advocated by Karl Marx? A. Capitalist society B. Individualism C. Selling state-owned enterprises to private investors D. Socialism E. Private profit over public good   ANSWER D Modern socialists trace their intellectual roots to Karl Marx (1818-1883), although socialist thought clearly predates Marx (elements of it can be traced […]

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Date: September 3rd, 2020

A person who believes in public ownership of the means of production f

QUESTION A person who believes in public ownership of the means of production for the common good of society is a(n): A. socialist. B. capitalist. C. individualist. D. monarchist. E. feudalist.   ANSWER A A socialist is someone who believes in public ownership of the means of production for the common good of society.

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Date: September 3rd, 2020

Command economies provide a more favorable environment for innovation

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 […]

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Date: September 3rd, 2020

By adopting the Contracts for the International Sale of Goods (CIGS),

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 […]

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Date: September 3rd, 2020