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Ball State University INTB 265 Ch

Business

Ball State University

INTB 265

Ch. 2

1)The United Nations Convention on Contracts for the International Sale of Goods (CISG) was introduced to

•             make it illegal to bribe a foreign government official to obtain or maintain business over which that foreign official has authority.

•             set up a legal mechanism that will help protect a firm when its product causes injury, death, or damage.

•             resolve disputes that arise in international trade regarding which country’s laws to apply.

•             specify the legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource.

•             allow establishing ownership over intellectual property such as a computer software or a new drug.

 

2.            James is the warehouse supply manager for a major tool corporation. It is his job to take inventory of the tools the company has available and send orders to make more tools when supplies run low. This supply and demand form of production is an example of a  economy.

•             Public

•             Command

•             Private

•             Socialist

•             Market

 

3.            When Aristotle said that private property is more highly productive than communal property, he was advocating for

•             Collectivism

•             Totalitarianism

•             Anarchism

•             Individualism

•             Monarchism

 

4.            A             economy follows the principles of collectivism as resources are allocated based on “the common good.”

•             Supply

•             Private

•             Mixed

•             Market

•             command

 

 

5.            An individual’s right to do something may be restricted on the grounds that it runs counter to “the good of society” when the political system emphasizes

•             Individualism

•             Collectivism

•             Privatization

•             Capitalism

•             Democracy

 

6.            In a pure command economy, the prices at which goods and services are sold are planned by the

•             World trade organization

•             Government

•             Producers

•             Private monopolists

•             Consumers

 

7.            What political system has a government that is by the people, exercised either directly or through elected representatives?

•             Socialism

•             Tribal totalitarianism

•             Communism

•             Democracy

•             Right-wing totalitarianism

 

8.            HealthWise Corporation has developed a new diet supplement to assist with weight loss. Which type of legal protection grants HealthWise Corporation exclusive rights for a defined period to the manufacture, use, or sale of this new diet supplement?

•             Trademark

•             Copyright

•             Patent

•             Warranty

•             Treaty

 

9.            In the United States, citizens have the right to elect officials who make decisions on behalf of the public. This practice is the reason the United States is a

•             Representative democracy

•             Socialist state

•             Theocratic state

•             Tribal totalitarian regime

•             Pseudo-democracy

 

10.          Communists believed that socialism could only be achieved through

•             Democratic principles

•             The free flow of goods

•             Violent revolution

 

•             The feudal system

•             State-owned enterprises

 

11.          The practices of bribery

•             Is a normal part of business in some countries

•             Is always illegal and unethical regardless of the situation

•             Is only associated with corrupt government officials in developing countries

•             Can usually be avoided by bigger companies

•             Can result in negative economic growth

 

12.          According to the               , it is illegal to bribe a foreign government official to obtain or maintain business over which that foreign official has authority.

•             European Union

•             UN Convention on trade

•             World Trade Organization

•             General Agreement on Tariffs and Trade

•             Foreign Corrupt Practices Act

 

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