en CR 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

											1		2		3

															4


					5									6		7
							8
																9
									10



																			11
												12										13
			14																		15
		16																17



																				18
																	19
								20

		21

																							22
																	23
																								24

										25
																			26
			27

				28
																			29
30


	31					32

								33

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

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