BUSMHR 2000 FINAL PAPER 2025/2026 QUESTIONS WITH
SOLUTIONS RATED A+
✔✔United Nations - ✔✔an international organization made up of 191 countries and
headquartered in NYC, formed in 1945 to promote peace, security, and cooperation
✔✔international trade - ✔✔occurs when a firm exports goods or services to consumers
in another country
✔✔foreign direct investment (FDI) - ✔✔direct investment in business operations in a
foreign country
✔✔Moore's Law - ✔✔the power of microprocessor technology doubles and its cost of
production falls in half every 18 months
✔✔stock of foreign direct investment - ✔✔the total cumulative value of foreign-owned
assets at a given time
✔✔multinational enterprise (MNE) - ✔✔a firm that owns business operations in more
than one country
✔✔international business - ✔✔any firm that engages in international trade or
investment
✔✔political economy - ✔✔the political, economic, and legal systems of a country
✔✔political system - ✔✔the system of government in a nation
✔✔socialism - ✔✔a political philosophy advocating substantial public involvement,
through government ownership, in the means of production and distribution
✔✔collectivism - ✔✔a political system that emphasizes collective goals over individual
goals
✔✔communists - ✔✔those who believe socialism can be achieved only through
revolution and totalitarian dictatorship
✔✔social democrats - ✔✔those committed to achieving socialism by democratic means
✔✔privatization - ✔✔the sale of state-owned enterprises to private investors
✔✔individualism - ✔✔an emphasis on the importance of guaranteeing individual
freedom and self-expression
, ✔✔democracy - ✔✔political system in which government is by the people, exercised
either directly or through elected representatives
✔✔totalitarianism - ✔✔form of government in which one person or political party
exercises absolute control over all spheres of human life and prohibits opposing political
parties
✔✔representative democracy - ✔✔a political system in which citizens periodically elect
individuals to represent them
✔✔communist totalitarianism - ✔✔a version of collectivism advocating that socialism
can be achieved only through a totalitarian dictatorship
✔✔theocratic totalitarianism - ✔✔a political system in which political power is
monopolized by a party, group, or individual that governs according to religious
principles
✔✔tribal totalitarianism - ✔✔a political system in which a party, group, or individual that
represents the interests of a particular tribe (ethnic group) monopolizes political power
✔✔right-wing totalitarianism - ✔✔a political system in which political power is
monopolized by a party, group, or individual that generally permits individual economic
freedom but restricts individual political freedom, including speech, frequently on the
grounds that it would lead to the rise of communism
✔✔market economy - ✔✔an economic system in which the interaction of supply and
demand determines the quantity in which goods and services are produced
✔✔command economy - ✔✔an economic system in which the government plans the
goods and services that a country produces, the quantity in which they are produce, and
the prices at which they are sold
✔✔legal system - ✔✔system of rules that regulate behavior and the processes by which
the laws are enforced and through with redress of grievances is obtained
✔✔common law - ✔✔a system of law based on tradition, precedent, and custom
✔✔civil law system - ✔✔a system of law based on a detailed set of written laws and
codes
✔✔theocratic law system - ✔✔a system of law based on religious teachings
✔✔Foreign Corrupt Practices Act - ✔✔US law regulating behavior regarding the
conduct of international business in the taking of bribes and other unethical actions
SOLUTIONS RATED A+
✔✔United Nations - ✔✔an international organization made up of 191 countries and
headquartered in NYC, formed in 1945 to promote peace, security, and cooperation
✔✔international trade - ✔✔occurs when a firm exports goods or services to consumers
in another country
✔✔foreign direct investment (FDI) - ✔✔direct investment in business operations in a
foreign country
✔✔Moore's Law - ✔✔the power of microprocessor technology doubles and its cost of
production falls in half every 18 months
✔✔stock of foreign direct investment - ✔✔the total cumulative value of foreign-owned
assets at a given time
✔✔multinational enterprise (MNE) - ✔✔a firm that owns business operations in more
than one country
✔✔international business - ✔✔any firm that engages in international trade or
investment
✔✔political economy - ✔✔the political, economic, and legal systems of a country
✔✔political system - ✔✔the system of government in a nation
✔✔socialism - ✔✔a political philosophy advocating substantial public involvement,
through government ownership, in the means of production and distribution
✔✔collectivism - ✔✔a political system that emphasizes collective goals over individual
goals
✔✔communists - ✔✔those who believe socialism can be achieved only through
revolution and totalitarian dictatorship
✔✔social democrats - ✔✔those committed to achieving socialism by democratic means
✔✔privatization - ✔✔the sale of state-owned enterprises to private investors
✔✔individualism - ✔✔an emphasis on the importance of guaranteeing individual
freedom and self-expression
, ✔✔democracy - ✔✔political system in which government is by the people, exercised
either directly or through elected representatives
✔✔totalitarianism - ✔✔form of government in which one person or political party
exercises absolute control over all spheres of human life and prohibits opposing political
parties
✔✔representative democracy - ✔✔a political system in which citizens periodically elect
individuals to represent them
✔✔communist totalitarianism - ✔✔a version of collectivism advocating that socialism
can be achieved only through a totalitarian dictatorship
✔✔theocratic totalitarianism - ✔✔a political system in which political power is
monopolized by a party, group, or individual that governs according to religious
principles
✔✔tribal totalitarianism - ✔✔a political system in which a party, group, or individual that
represents the interests of a particular tribe (ethnic group) monopolizes political power
✔✔right-wing totalitarianism - ✔✔a political system in which political power is
monopolized by a party, group, or individual that generally permits individual economic
freedom but restricts individual political freedom, including speech, frequently on the
grounds that it would lead to the rise of communism
✔✔market economy - ✔✔an economic system in which the interaction of supply and
demand determines the quantity in which goods and services are produced
✔✔command economy - ✔✔an economic system in which the government plans the
goods and services that a country produces, the quantity in which they are produce, and
the prices at which they are sold
✔✔legal system - ✔✔system of rules that regulate behavior and the processes by which
the laws are enforced and through with redress of grievances is obtained
✔✔common law - ✔✔a system of law based on tradition, precedent, and custom
✔✔civil law system - ✔✔a system of law based on a detailed set of written laws and
codes
✔✔theocratic law system - ✔✔a system of law based on religious teachings
✔✔Foreign Corrupt Practices Act - ✔✔US law regulating behavior regarding the
conduct of international business in the taking of bribes and other unethical actions
