Quiz #1 AGB 302 Quiz #1 AGB 302
Study online at https://quizlet.com/_6axxuh
1. political economy The interdependent combi-
nation of a
country's political, econom-
ic, and legal
systems
2. Collectivism a political system that em-
phasizes collective goals as
opposed to individual goals
3. communists believed that socialism
could be achieved only
through violent revolution
and totalitarian dictatorship
4. Individualism can be traced to the ancient
greek philosopher Aristotle
5. Individualism advocates for a democratic process
6. market economy if demand for a product
exceeds supply, prices will
rise, signaling to producers
to produce more.
7. Common Law System judges have the power to
interpret the law so that it
applies to the unique cir-
cumstances of an individual
case.
8. benefits, costs, and risks the ___ associated with do-
ing business in a coun-
1
1/3
Study online at https://quizlet.com/_6axxuh
1. political economy The interdependent combi-
nation of a
country's political, econom-
ic, and legal
systems
2. Collectivism a political system that em-
phasizes collective goals as
opposed to individual goals
3. communists believed that socialism
could be achieved only
through violent revolution
and totalitarian dictatorship
4. Individualism can be traced to the ancient
greek philosopher Aristotle
5. Individualism advocates for a democratic process
6. market economy if demand for a product
exceeds supply, prices will
rise, signaling to producers
to produce more.
7. Common Law System judges have the power to
interpret the law so that it
applies to the unique cir-
cumstances of an individual
case.
8. benefits, costs, and risks the ___ associated with do-
ing business in a coun-
1
1/3
