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International business > National differences I > Flashcards

National differences I Flashcards

1
Q

The political, economic and legal systems of a country

A

Political Economy

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2
Q

System of government in a nation

A

Political System

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3
Q

What are the two dimensions of political system?

A
  1. Collectivism

2. Individualism

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4
Q

A political system that emphasizes collective goals as opposed to individual good

A

Collectivism

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5
Q

An emphasis on the impatience of guaranteeing individual freedom and self-expression

A

Individualism

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6
Q

What are the 2 central tenets of individualism?

A
  1. Collectivism

2. Socialism

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7
Q

Those who believe in public ownership of the means of production for the common good of society

A

Socialism

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8
Q

How is socialism classified?

A
  1. Communists

2. Social Democrats

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9
Q

The sale of state-owned enterprises to private investors

A

Privatization

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10
Q

What are the main characteristics of individualism ?

A
  1. Democracy

2. Totalitarism

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11
Q

Political system in which government is by the people, excessed either directly or through elected representatives

A

Democracy

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12
Q

From of government in which one person or political party exercises absolute control over all spheres of human life and opposing political practices are prohibited

A

Totalitarism

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13
Q

Is based on a belief that that citizens should be directly involved in decision making

A

Pure Democracy

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14
Q

A political system in which citizens periodically elect individuals to represent them in government

A

Representative Democracy

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15
Q

State the 4 types of totalitarianism

A
  1. Communist
  2. Theocratic
  3. Tribal
  4. Right wing
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16
Q

A version of collectivism advocating that socialism can be achieved only through a totalitarian dictatorship

A

Communist

17
Q

A political system is which political power is monopolized by a party, group or individual that governs according to religious principles

A

Theocratic

18
Q

A political system in which a party, group or individual that represents the interests of a particular tribe monopolizes political power

A

Tribal

19
Q

A political system is which political power is monopolized by a party, group or individual that generally permits individual economic freedom but restricts individual political freedom, including free speech, often on the groups that it would lead to rise of communism

A

Right wing

20
Q

State the 3 broad types of economic systems

A

Market economy
Command economy
Mixed economy

21
Q

An economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced

A

Market economy

22
Q

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

A

Command economy

23
Q

Is the combination between market economy and command economy

A

Mixed economy

24
Q

System of rules that regulate behavior and the processes by which the laws of a country are enforced and through which redress of grievance in obtained

A

Legal system

25
Q

A system of law based on tradition, precedent and custom. When law courts interpret common law they do so with regard to these characteristics

A

Common law

26
Q

A system of law based on a ver detailed set of written law and codes

A

Civil law system

27
Q

A system of law based on religious teachings

A

Theocratic law system

28
Q

A document that specifies the conditions under which on exchange is to occur and details rights and obligations of the parties involved

A

Contract

29
Q

The body of law that governs contract enforcement

A

Contract law

30
Q

Refers to a resource over which an individual or business holds a legal title , that is , a resource that it own

A

Property

31
Q

Violation of property rights through theft, blackmail, and the like by private individuals or groups

A

Private action

32
Q

The extortion of income or resources of property holders officials, such as politicians and government bureaucrats

A

Public action

33
Q

Products of the mind, ideas. Intelectual property can be protected by patents, copyrights and trademark

A

Intelectual property

34
Q

Grants the inventor of a new product or process exclusive rights to the manufacture use a sale of that invention

A

Patern

35
Q

Exclusive legal rights of authors to publish and disposers, of their work as thy see fit

A

Copyright

36
Q

The designs and names, often officially registered, by which merchants or manufacturers designate and differentiate their products

A

Trademark

37
Q

Set certain safety standards to which a product must adhere

A

Product safety Laws

38
Q

Involves holding a firm and its officers responsible when a product causes injury, death, or damage

A

Product liability

International business (4 decks)

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