LINGNAN UNIVERSITY
BUS2108 Global Business Environment
End of Chapter Quiz - Chapter 2
1)A country's ________ system is a part of the political economy
A) religious
B) value
C) demographic
D) legal
E) technological
2) A political system that promotes activity "for the good of society" is based
on
A) democratic principles.
B) individualism.
C) public action.
D) collectivism.
E) private action.
3) Karl Marx promoted the idea of a(n) ________ society in which the state
owned the means of production, distribution, and exchange.
A) socialist
B) capitalist
C) individualist
D) monarchist
E) feudalist
4) Those who attempt to achieve the same ideologies as that of the
communists without violent revolution and totalitarian dictatorship are
called
A) pure capitalists.
B) social democrats.
C) individualists.
D) anarchists.
E) aristocrats.
5) What is the central message of individualism?
A) State-owned entities are more profitable for the common good.
B) Individuals rely on government to organize society.
C) Individual economic and political freedoms are the rules on which a
society should be based.
D) The few should benefit at the expense of the many.
E) Harmony can only be achieved by turning our backs on dictatorships.
6) The fascist regimes that ruled Germany and Italy in the 1930s and 1940s
had adopted
A) right-wing totalitarianism.
B) theocratic totalitarianism.
C) representative democracy.
D) pure democracy.
E) totalitarian democracy.
7) In a ________ economy, certain sectors of the economy are left to private
ownership and free market mechanisms, while other sectors have
significant state ownership and government planning.
A) command
B) pure market
C) mixed
D) centrally planned
E) laissez-faire
8) When comparing the three broad types of economic systems, it can be said
that
A) for a pure market economy to function efficiently, product supply must be
restricted.
B) in a command economy, state-owned enterprises have little incentive
to control costs and be efficient.
C) the sole role of government in a command economy is to encourage
vigorous free and fair competition between private producers.
D) mixed economies were once uncommon throughout much of the world,
although they are becoming more popular now.
E) production in command economies is determined by the interaction of
supply and demand and signaled to producers through the price system.
9) The common law system enjoys a degree of flexibility not found in other
systems because
A) it is usually found in democratic republics.
B) it originated from Great Britain and can be found in almost all of its former
colonies.
C) it is interpreted by the law courts with regard to tradition, precedent,
and custom.
D) it is based on a detailed set of laws organized into codes.
E) it has originated recently—just a decade ago
10) Under a civil law system, it is the responsibility of a judge only to ________
the law.
A) create
B) apply
C) assess
D) interpret
E) change
11) When considering the legal use of the word, ________ is the term given to a
resource over which an individual or business holds a legal title.
A) liability
B) contract
C) shareholder
D) property
E) possession
12) Products of the mind, such as computer software, a screenplay, a music
score, or the chemical formula for a new drug, constitute
A) assets which receive no protection under law.
B) non-performing assets.
C) tangible assets.
D) intellectual property.
E) real property.
