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Global Business Today 9th Edition Test Bank Chapter 1

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  1. 1. Global Business Today 9th Edition Test Bank Hill Completed downloadable package TEST BANK for Global Business Today 9th Edition by Charles W. L. Hill, G. Tomas M. Hult Download: https://testbankarea.com/download/753 Or https://testbankarea.com/download/global-business-today-9th-edition-test-bank-hill- hult/ Chapter 2 Student: ___________________________________________________________________________ 1. The term political economy is used to stress the fact that the political, economic, and legal systems of a country are independent of each other. True False 2. Political systems that emphasize collectivism tend to be democratic, while political systems that place a high value on individualism tend to be totalitarian. True False 3. Plato did not equate collectivism with equality. True False
  2. 2. 4. Karl Marx advocated state ownership of the basic means of production, distribution, and exchange (i.e., businesses). True False 5. The social democrats believed that socialism could be achieved only through violent revolution and totalitarian dictatorship. True False 6. By the mid-1990s, communism was rising worldwide. True False 7. One of the tenets of collectivism is that the welfare of society is best served by letting people pursue their own economic self-interest. True False 8. In practical terms, individualism translates into an advocacy for democratic ideals and free market economics. True False 9. The Cold War was in many respects a war between collectivism, championed by the former Soviet Union, and individualism, championed by the United States. True False
  3. 3. 10. In practical terms, collectivism creates a more favorable environment for international businesses to operate in than individualism. True False 11. In a totalitarian country, all the constitutional guarantees on which representative democracies are builtan individual's right to freedom of expression and organization, a free media, and regular electionsare denied to the citizens. True False 12. In most democratic states, those who question the right of the rulers to rule find themselves imprisoned, or worse. True False 13. The governments of China, Vietnam, and Laos are communist in name only because those nations have adopted wide-ranging, market-based economic reforms. True False 14. All right-wing dictatorships display an affinity toward socialist or communist ideas. True False 15. In a pure command economy, the goods and services that a country produces, the quantity in which they are produced, and the prices at which they are sold are all dictated by the interaction of demand and supply. True False
  4. 4. 16. Command economies provide a more favorable environment for innovation and entrepreneurs than market economies. True False 17. A common law system tends to be less adversarial than a civil law system. True False 18. When law courts interpret civil law, they do so with regard to tradition, precedent, and custom. True False 19. Judges under a civil law system have less flexibility than those under a common law system. True False 20. Islamic law is primarily a moral rather than a commercial law and is intended to govern all aspects of life. True False 21. Compared to a common law system, it is more expensive to draw up contracts in a civil law jurisdiction. True False 22. By adopting the Contracts for the International Sale of Goods (CIGS), a nation signals to other adopters that it will treat the convention's rules as part of its law. True False
  5. 5. 23. When firms do not wish to accept the Contracts for the International Sale of Goods, they often opt for arbitration by a recognized arbitration court to settle contract disputes. True False 24. Intellectual property laws stimulate innovation and creative work. True False 25. The term "public action" refers to the exclusive legal rights of authors, composers, playwrights, artists, and publishers to publish and disperse their work as they see fit. True False 26. Liability laws are typically the least extensive in highly developed nations. True False 27. When product safety laws are tougher in a firm's home country than in a foreign country, the ethical thing to do is to adhere to home-country standards. True False 28. The benefits, costs, and risks associated with doing business in a country are independent of that country's political, economic, and legal systems. True False 29. Other things being equal, a nation with democratic political institutions is clearly more attractive as a place in which to do business than a nation that lacks democratic institutions. True False
  6. 6. 30. Which of the following systems is a part of the political economy? A. Religious system B. Value system C. Demographic system D. Legal system E. Technological system 31. Which of the following statements is true about political systems? A. The political system of a country is independent of its economic and legal systems. B. The political system of a country is of no importance to international business. C. It is not possible to have democratic societies that emphasize a mix of collectivism and individualism. D. It is possible to have totalitarian societies that are not collectivist. E. The societal culture of a country does not influence its political system. 32. The needs of society as a whole are generally viewed as being more important than individual freedoms when the emphasis is on: A. democracy. B. collectivism. C. individualism. D. capitalism. E. privatization.
  7. 7. 33. In the country of Normian Republic, an individual's right to own land is restricted to a large extent on the basis that it runs counter to "the common good." In this context, which of the following is most likely to be the political system adopted by Normian Republic? A. Individualism B. Democracy C. Collectivism D. Capitalism E. Protectionism 34. A person who believes in public ownership of the means of production for the common good of society is a(n): A. socialist. B. capitalist. C. individualist. D. monarchist. E. feudalist. 35. Modern socialism traces its intellectual roots to: A. Aristotle. B. David Hume. C. Karl Marx. D. Adam Smith. E. Milton Friedman.
  8. 8. 36. Which of the following was advocated by Karl Marx? A. Capitalist society B. Individualism C. Selling state-owned enterprises to private investors D. Socialism E. Private profit over public good 37. In the early twentieth century, the socialist ideology split into two broad camps and the people who believed that socialism could be achieved only through violent revolution and totalitarian dictatorship were referred to as: A. communists. B. capitalists. C. democrats. D. individualists. E. anarchists. 38. Those who attempt to achieve the same ideologies as that of the communists without violent revolution and totalitarian dictatorship are: A. pure capitalists. B. social democrats. C. individualists. D. anarchists. E. aristocrats.
  9. 9. 39. Which of the following is inconsistent with Marxist philosophy? A. Concern over public good rather than private profit B. Monopoly of state-owned companies in certain industries C. Opposing the ideologies of capitalist societies D. Substantial limits on individual political freedom E. Selling state-owned enterprises to private investors 40. Which of the following is true about communism? A. Communism propagates the idea of "private profit rather than public good." B. By the mid-1990s communism started rising worldwide. C. China has moved sharply away from strict adherence to communist ideology in the economic sphere. D. Communists committed themselves to achieving socialism by turning their backs on violent revolution and dictatorship. E. Communism stresses that the interests of the individual should take precedence over the interests of the state. 41. The sale of state-owned enterprises to independent, nonpublic investors is referred to as: A. privatization. B. nationalization. C. collectivism. D. communalism. E. public action.
  10. 10. 42. Which of the following can be traced to the ancient Greek philosopher Aristotle? A. Collectivism B. Individualism C. Socialism D. Totalitarianism E. Communism 43. The Cedian government believes that its citizens should have complete freedom in their economic and political pursuits, and the Cedian ideology is "private profit over public good." In this context, it can be said that Cedia most likely follows the philosophy of: A. totalitarianism. B. socialism. C. individualism. D. communism. E. Marxism. 44. In the context of individualism, which of the following is inconsistent with the works of the ancient Greek philosopher Aristotle? A. Guaranteeing individual freedom B. Government dictating what is in the best interest of society C. Guaranteeing self-expression D. Committing to private ownership E. Treating individual diversity as desirable
  11. 11. 45. Which of the following is most likely to be advocated by individualism? A. Communal property is more highly productive than private property. B. Public good should be preferred over private profit. C. State-owned companies should monopolize certain industries. D. The welfare of society is best served by some collective body such as government. E. Free market ideologies should be followed for achieving better standards of living. 46. In practical terms, which of the following translates into an advocacy for democratic ideals and free market economics, which in general creates the most favorable environment for international businesses to operate in? A. Collectivism B. Totalitarianism C. Individualism D. Communism E. Socialism 47. Democracy, in its purest form, is based on the belief that: A. citizens should be directly involved in decision making. B. political freedom of the citizens should be limited. C. citizens are responsible for their own economic health and thus need no government. D. individual freedom in the economic sphere should be restricted.

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Global Business Today 9th Edition Test Bank Chapter 1

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