Washburn University

BU 355

Chapter 2

1)A composer can protect an original musical score from being copied and sold by someone else by acquiring for the score a(n):

2. Initech Incorporated, a multinational giant, runs a number of diversified businesses. Which of the following can be considered as an intellectual property of the firm?

3. The Republic of Marwa has decided to open its economy to globalization. Which of the following will facilitate this decision of Marwa?

4. Which of the following is true about the three main types of legal systems?

5. Silver Tape Corporation has developed a new type of adhesive tape. Which of the following types of legal protections can grant the company exclusive rights for a defined period to the manufacture, use, or sale of the new adhesive tape?

6. Judges in a civil law system have the power to interpret the law, whereas judges in a common law system have the power only to apply the law.

7. In comparison to market economies, command economies lack:

8. After the collapse of communism in Dehran, successful business owners often had to pay "protection money" to the mafia or face violent retribution. In the context of property rights, the behavior of the mafia is an example of:

9. Veronica had been getting red patches on her face after using a protein-based lotion manufactured by Nature Life Research Lab. On consulting a dermatologist, she learned that the lotion's steroid levels were beyond the standard levels permitted by the government and the damage caused by the lotion was irreversible. Which of the following will address Veronica's grievances?

10. Which of the following statements is true about the difference between contracts in common law and civil law systems?

11. Which of the following statements is most likely to be true regarding private ownership?

12. In the United States, the Foreign Corrupt Practices Act was passed during the 1970s following revelations that:

13. Which of the following is true about legal systems?

14. Which of the following best exemplifies facilitating or expediting payments in business?

15. Which of the following is a feature of representative democracy?

16. In the context of property rights, which of the following best exemplifies private action?

17. In what type of economy are all businesses state owned, the rationale being that the government can then direct them to make investments that are in the best interests of the nation as a whole rather than in the interests of private individuals?

18. In which countries are we likely to find free market economies?

19. In a pure command economy, the goods and services that a country produces, the quantity in which they are produced, and the prices at which they are sold are all dictated by the interaction of demand and supply.

20. Contracts for the International Sale of Goods (CIGS) was introduced to:

21. As per the U.S. law and OECD convention, which of the following is most likely to be considered as a grease payment?

22. The product liability laws are established to protect the:

23. Which of the following is most likely to be the result of a country having lax intellectual property laws?

24. Which of the following does the U.S. law and OECD convention allow as an exception?

25. Who among the following can claim product liability from the offender?

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

27. In mixed economies, governments sometimes tend to take into state ownership troubled firms whose continued operation is thought to be vital to national interests. Once a government takes into state ownership such troubled firms, they are said to be:

28. Which of the following systems is a part of the political economy?

29. The Cedian government believes that its citizens should have complete freedom in their economic and political pursuits, and the Cedian ideology is "private profit over public good." In this context, it can be said that Cedia most likely follows the philosophy of:

30. A common feature of many right-wing dictatorships is:

31. Which of the following statements is true about political systems?

32. In Nerumbia, all businesses are owned by the state. The Nerumbian government plans production, fixes commodity price, and also gives directions on investments to ensure they benefit the nation as a whole and not only a few individuals. What type of economy has Nerumbia adopted?

33. A common feature of many right-wing dictatorships is:

34. The Boldovian government took Sea Lion Inc., a domestic, private shipbuilding firm, into state ownership to save the company from bankruptcy. However, the other private competitors in the shipbuilding industry were enraged by this decision of the government. As a result, the government had to reduce the tax burden on all other private shipbuilding firms so that both the state-owned enterprise and private firms could co-exist. According to this information, Boldovia has most likely adopted what type of economy?

35. Which of the following is inconsistent with Marxist philosophy?

36. Which of the following is a typical function of a trademark?

37. In the context of "knowledge" economy of the twenty-first century, which of the following statements is true about intellectual property?

38. In the context of individualism, which of the following is inconsistent with the works of the ancient Greek philosopher Aristotle?

39. A boom in product liability suits and awards in the United States resulted in a dramatic increase in the cost of liability insurance. Many business executives argue that this: