Chapter 2
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Chapter 2
34
Political economy : the political, economic, and legal systems of a country
Political system : the system of government in a nation
Collectivism : a political system that emphasizes collective goals over individual goals
Socialism : political philosophy advocating substantial public involvement, through government ownership, in the means of production and distribution
Communist : 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
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
Market economy : an economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced
Legal system : system of rules that regulate behavior and the processes by which the laws are enforced and through which 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 sat of written laws and codes
Contract : a document that specifies the conditions under which an exchange is to occur and details the rights and obligations of the parties involved
Contract law : the body of law that governs contract enforcement
Property rights : the bundle of legal rights over the use to which a resource is put and over the use of made of any income that may be derived from that resource
Patent : grants the inventor of a new product or process exclusive rights for a defined period to the manufacture, use, or sale of that invention
Copyright : the exclusive legal right of authors, composers, playwrights, artists, and publishers to publish and disperse their work as they see fit
Trademark : designs and names by which merchants or manufacturers designate and differentiate their products
Product safety laws : set certain safety standards to which a product must adhere
Product liability : involves holding a firm and its officers responsible when a product causes injury, death, or damage
Innovation : development of new products, processes, organizations, management practices, and strategies
Entrepreneurs : those who first commercialize innovations
Deregulation : removal of government restrictions concerning the conduct of business
First mover advantages : advantages that accrue to the first to enter a market
Late mover disadvantages : handicaps experienced by being a late entrant into a market
Political risk : the likelihood that political forces will cause drastic changes in a country’s business environment that will adversely affect the profit and other goals of a business enterprise
Economic risk : the likelihood that events will cause drastic changes in a country’s business environment that hurt the profit and other goals of a particular business enterprise
Legal risk : the likelihood that a trading partner will opportunistically or expropriate property rights
HDI : measures the quality of human life in different nations
GNI : measures the total annual income received by residents of a nation
World intellectual property organization : an international organization whose members sign treaties designed to protect intellectual property
Paris convention for the protection of industrial property : international agreement to protect intellectual property
Chapter 2
Across:1. | political philosophy advocating substantial public involvement, through government ownership, in the means of production and distribution | 4. | designs and names by which merchants or manufacturers designate and differentiate their products | 6. | an international organization whose members sign treaties designed to protect intellectual property | 9. | an economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced | 15. | the system of government in a nation | 16. | the likelihood that political forces will cause drastic changes in a country’s business environment that will adversely affect the profit and other goals of a business enterprise | 17. | measures the quality of human life in different nations | 20. | a system of law based on a detailed sat of written laws and codes | 21. | advantages that accrue to the first to enter a market | 23. | system of rules that regulate behavior and the processes by which the laws are enforced and through which redress of grievances is obtained | 25. | the sale of state-owned enterprises to private investors | 26. | those who first commercialize innovations | 27. | involves holding a firm and its officers responsible when a product causes injury, death, or damage | 28. | development of new products, processes, organizations, management practices, and strategies | 30. | those committed to achieving socialism by democratic means | 31. | international agreement to protect intellectual property | 33. | the bundle of legal rights over the use to which a resource is put and over the use of made of any income that may be derived from that resource |
| | Down:2. | the body of law that governs contract enforcement | 3. | handicaps experienced by being a late entrant into a market | 5. | an emphasis on the importance of guaranteeing individual freedom and self-expression | 7. | political system in which government is by the people | 8. | the likelihood that events will cause drastic changes in a country’s business environment that hurt the profit and other goals of a particular business enterprise | 10. | a system of law based on tradition, precedent, and custom | 11. | set certain safety standards to which a product must adhere | 12. | measures the total annual income received by residents of a nation | 13. | form of government in which one person or political party exercises absolute control over all spheres of human life and prohibits opposing political parties | 14. | a political system that emphasizes collective goals over individual goals | 18. | believe socialism can be achieved only through revolution and totalitarian dictatorship | 19. | removal of government restrictions concerning the conduct of business | 22. | the likelihood that a trading partner will opportunistically or expropriate property rights | 24. | grants the inventor of a new product or process exclusive rights for a defined period to the manufacture, use, or sale of that invention | 25. | the political, economic, and legal systems of a country | 29. | a document that specifies the conditions under which an exchange is to occur and details the rights and obligations of the parties involved | 32. | the exclusive legal right of authors, composers, playwrights, artists, and publishers to publish and disperse their work as they see fit |
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© 2013
PuzzleFast.com, Noncommercial Use Only
Chapter 2
Across:1. | political philosophy advocating substantial public involvement, through government ownership, in the means of production and distribution | 4. | designs and names by which merchants or manufacturers designate and differentiate their products | 6. | an international organization whose members sign treaties designed to protect intellectual property | 9. | an economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced | 15. | the system of government in a nation | 16. | the likelihood that political forces will cause drastic changes in a country’s business environment that will adversely affect the profit and other goals of a business enterprise | 17. | measures the quality of human life in different nations | 20. | a system of law based on a detailed sat of written laws and codes | 21. | advantages that accrue to the first to enter a market | 23. | system of rules that regulate behavior and the processes by which the laws are enforced and through which redress of grievances is obtained | 25. | the sale of state-owned enterprises to private investors | 26. | those who first commercialize innovations | 27. | involves holding a firm and its officers responsible when a product causes injury, death, or damage | 28. | development of new products, processes, organizations, management practices, and strategies | 30. | those committed to achieving socialism by democratic means | 31. | international agreement to protect intellectual property | 33. | the bundle of legal rights over the use to which a resource is put and over the use of made of any income that may be derived from that resource |
| | Down:2. | the body of law that governs contract enforcement | 3. | handicaps experienced by being a late entrant into a market | 5. | an emphasis on the importance of guaranteeing individual freedom and self-expression | 7. | political system in which government is by the people | 8. | the likelihood that events will cause drastic changes in a country’s business environment that hurt the profit and other goals of a particular business enterprise | 10. | a system of law based on tradition, precedent, and custom | 11. | set certain safety standards to which a product must adhere | 12. | measures the total annual income received by residents of a nation | 13. | form of government in which one person or political party exercises absolute control over all spheres of human life and prohibits opposing political parties | 14. | a political system that emphasizes collective goals over individual goals | 18. | believe socialism can be achieved only through revolution and totalitarian dictatorship | 19. | removal of government restrictions concerning the conduct of business | 22. | the likelihood that a trading partner will opportunistically or expropriate property rights | 24. | grants the inventor of a new product or process exclusive rights for a defined period to the manufacture, use, or sale of that invention | 25. | the political, economic, and legal systems of a country | 29. | a document that specifies the conditions under which an exchange is to occur and details the rights and obligations of the parties involved | 32. | the exclusive legal right of authors, composers, playwrights, artists, and publishers to publish and disperse their work as they see fit |
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© 2013
PuzzleFast.com, Noncommercial Use Only