AGB 302 Quiz Questions and Answers
Interdependent political, economic, and legal systems of a country make up its -
Answer-political economy
Modern socialism has been popularized largely through the work of ________. -
Answer-karl marx
In several Western democracies, the poor performance of state-owned enterprises,
because of protection from competition and guaranteed government financial support,
led to ________. - Answer-privatization
The tenet of ________ is that the welfare of society is best served by letting people
pursue their own economic self-interest. - Answer-individualism
in a pure market economy: - Answer-production is determined by the interaction of
supply and demand.
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 - Answer-mixed
Which of the following statements about the legal systems of countries is true? -
Answer-They can affect the attractiveness of a country as an investment site or market.
Under the ________, cases are judged with reference to three characteristics: tradition,
precedent, and custom. - Answer-common law system
Which of the following areas of international trade is regulated by the Foreign Corrupt
Practices Act? - Answer-Preventing bribery and unethical acts in the conduct of
international business
Design and names by which merchants or manufacturers designate and differentiate
their products are known as ________ - Answer-trademarks
One of the reasons for the spread of democracy is the emergence of ________ who
have pushed for democratic reforms - Answer-increasingly prosperous middle and
working classes
Anecdotal comparisons suggest that the assertion that nations that invest more in
________ will have higher growth rates is true. - Answer-education
Several of the fastest-growing Asian economies adopted more ________ governments
during the past three decades, including South Korea and Taiwan - Answer-democratic
Interdependent political, economic, and legal systems of a country make up its -
Answer-political economy
Modern socialism has been popularized largely through the work of ________. -
Answer-karl marx
In several Western democracies, the poor performance of state-owned enterprises,
because of protection from competition and guaranteed government financial support,
led to ________. - Answer-privatization
The tenet of ________ is that the welfare of society is best served by letting people
pursue their own economic self-interest. - Answer-individualism
in a pure market economy: - Answer-production is determined by the interaction of
supply and demand.
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 - Answer-mixed
Which of the following statements about the legal systems of countries is true? -
Answer-They can affect the attractiveness of a country as an investment site or market.
Under the ________, cases are judged with reference to three characteristics: tradition,
precedent, and custom. - Answer-common law system
Which of the following areas of international trade is regulated by the Foreign Corrupt
Practices Act? - Answer-Preventing bribery and unethical acts in the conduct of
international business
Design and names by which merchants or manufacturers designate and differentiate
their products are known as ________ - Answer-trademarks
One of the reasons for the spread of democracy is the emergence of ________ who
have pushed for democratic reforms - Answer-increasingly prosperous middle and
working classes
Anecdotal comparisons suggest that the assertion that nations that invest more in
________ will have higher growth rates is true. - Answer-education
Several of the fastest-growing Asian economies adopted more ________ governments
during the past three decades, including South Korea and Taiwan - Answer-democratic
