Western Governors University

BUSINESS M C211

Chapter 2:

1)Explain the concept of institutions and their key role in reducing uncertainty.

2. Articulate the two core propositions underpinning an institution-based view of global business.

3. Identify the basic differences between democracy and totalitarianism.

4. Outline the differences among civil law, common law, and theocratic law.

5. Understand the importance of property rights and intellectual property

rights.

6. Appreciate the differences among market economy, command economy, and mixed economy.
7. Participate in two leading debates concerning politics, laws, and

economics.

8. Draw implications for action.