True or False
Contracts under a civil law system tend to be very detailed with all contingencies spelled out
False
Because common law tends to be relatively ill specified, contracts drafted under a common law framework tend to be very detailed with all contingencies spelled out. In civil law systems, however, contracts tend to be much shorter and less specific because many of the issues are already covered in a civil code.
True or False
Many of the world’s larger trading nations, including India and the United Kingdom, have not ratified the United Nations Convention on Contracts for the International Sale of Goods (CISG)
True
One problem with the CISGS, however, is that only 83 nations have ratified the convention (the CISG went into effect in 1988). Many of the world’s larger trading nations, including India and the United Kingdom, have not ratified the CISG.
CISG là bộ quy tắc quốc tế điều chỉnh cách lập và thực hiện hợp đồng mua bán hàng hóa giữa các doanh nghiệp ở các quốc gia khác nhau.
Nếu một nước ratify (phê chuẩn) CISG, thì luật này sẽ tự động áp dụng cho hợp đồng quốc tế của họ (trừ khi hợp đồng có thỏa thuận khác).
Một số quốc gia lớn chưa tham gia vì họ muốn giữ nguyên hệ thống luật riêng cho hợp đồng (ví dụ: common law ở Anh) hoặc vì lý do kinh tế – chính trị.
True or False
To facilitate international business, property rights are defined in a consistent way across countries
False
Countries differ in the extent to which their legal systems define and protect property rights.
True or False
The Foreign Corrupt Practices Act does not allow for grease payments
False
Đạo luật Chống tham nhũng ở nước ngoài của Mỹ (Foreign Corrupt Practices Act – FCPA) không cho phép các khoản grease payments (tiền “bôi trơn”) → FALSE.
True or False
Patents discourage companies from committing themselves to extensive basic research
False
True or False
The Trade-Related Aspects of Intellectual Property Rights, attempts to reduce intellectual property protections to enhance trade
False
True or False
Product liability sets certain safety standards to which a product must adhere
False
True or False
Product liability can be much lower if a product does not conform to required safety standards
False
Trách nhiệm sản phẩm (product liability) có thể thấp hơn nếu sản phẩm không đáp ứng tiêu chuẩn an toàn bắt buộc → FALSE.
In several Western democracies, the poor performance of state-owned enterprises, because of protection from competition and guaranteed government financial support, led to __
a. Privatization
b. Nationalization
c. Liberalization
d. Socialization of production
a. Privatization
Ở nhiều nước dân chủ phương Tây, doanh nghiệp nhà nước (state-owned enterprises) hoạt động kém hiệu quả vì được bảo hộ khỏi cạnh tranh và luôn được chính phủ cứu trợ tài chính.
Hậu quả là chính phủ chọn tư nhân hóa (privatization) — bán hoặc chuyển các doanh nghiệp này sang sở hữu tư nhân để tăng hiệu quả, năng suất, và cạnh tranh.
Which of the following statements about individualism is true
a. Individualism promotes state ownership of the basic means of production, distribution and exchange
b. Individualism promotes globalization
c. Individualism creates an anti-business environment
d. Individualism advocates for a democratic political system
d. Individualism advocates for a democratic political system
Chủ nghĩa cá nhân (Individualism) = tin rằng cá nhân nên có tự do trong hoạt động kinh tế và chính trị → đề cao dân chủ và kinh tế thị trường.
Điều này thường tạo ra môi trường thuận lợi hơn cho kinh doanh quốc tế vì khuyến khích cạnh tranh, quyền sở hữu tư nhân, và tự do giao dịch.
Which systems of government generally permits some individual economic freedom but restricts individual political freedom, frequently on the grounds that it would lead to the rise of communism?
a. Tribal totalitarianism
b. Right-wing totalitarianism
c. Democratic totalitarianism
d. Theocratic totalitarianism
b. Right-wing totalitarianism
In a pure market economy
a. All productive activities are owned by the state
b. Production is determined by the interaction of supply and demand
c. Collectivist goals are given priority over individual goals
d. The prices at which goods are sold is determined by the government
a. All productive activities are owned by the state
In the archetypal pure market economy, all productive activities are privately owned, as opposed to being owned by the state. The goods and services that a country produces are not planned by anyone.
An economy in which the interaction of supply and demand determines the quantity which goods and services are produced is called a __
a. Planned economy
b. Command economy
c. Closed economy
d. Market economy
d. Market economy
Market economy: sản lượng hàng hóa & dịch vụ được quyết định bởi cung và cầu, giá cả đóng vai trò tín hiệu cho nhà sản xuất.
Tài nguyên & hoạt động sản xuất thuộc sở hữu tư nhân, không phải sở hữu nhà nước.
Antitrust laws in the United States are designed to
a. Restrict agricultural subsidies
b. Increase trade barriers
c. Outlaw monopolies
d. Restrict privatization
c. Outlaw monopolies
Antitrust laws ở Mỹ nhằm ngăn chặn các hành vi kinh doanh hạn chế cạnh tranh và tạo độc quyền (monopoly).
Mục tiêu: duy trì cạnh tranh công bằng, bảo vệ người tiêu dùng và khuyến khích đổi mới.
In which of the following economies would the government be most likely to take into state ownership troubled firms whose continued operation is thought to be vital to national interests?
a. Market economies
b. Laissez-faire economies
c. Liberal economies
d. Mixed economies
d. Mixed economies
In mixed economies, governments also tend to take into state ownership troubled firms whose continued operation is thought to be vital to national interests.
Under the __, cases are judged with reference to three characteristics: tradition, precedent and custom
a. Theocratic law system
b. Civil law system
c. Contract law
d. Common law system
d. Common law system
Which of the following is the most widely practiced theocratic legal system in the world today?
a. Hindu law
b. Sikh law
c. Islamic law
d. Jewish law
c. Islamic law
__ is the collective term for the legal rights relating to the use to which a resource is put and over the use made of any income that may be derived from that resource
a. Trade rights
b. Property rights
c. Positive rights
d. Common rights
b. Property rights
In Russia, in the chaotic period following the collapse of communism, an outdated legal system, coupled with a weak police force and judical system, allowed the Russian Mafia to demand “protection money” from business owners. Any business owner who rebelled had to face violent retribution. This violation of property rights exemplifies __
a. Private action
b. Copyright violation
c. Infrastructure failure
d. Public liability
a. Private action
Which of the following areas of international trade is regulated by the Foreign Corrupt Practices Act?
a. Making and performance of commercial contracts in international trade
b. Preventing bribery and unethical acts in the conduct of international business
c. Establishing a set of safety standards to which a new product must adhere
d. Controlling the mafia activity that hinders trade in Russia, Japan and the US
b. Preventing bribery and unethical acts in the conduct of international business
Which of the following is an example of intellectual property?
a. A music score
b. A laser-tag game
c. A software business
d. A theater
a. A music score
A __ grants the inventor of a new product or process exclusive rights for a defined period of time to the manufacturer, use, or sale of that invention
a. Copyright
b. Trademark
c. Contract
d. Patent
d. Patent
A 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.
The Research and Development division of a company has recently designed a new coffee vending machine that is likely to sell very well in the market. It is compact, user friendly and provides unprecedented efficiency in terms of cost per cup. Consequently, the company fears that its competitors would soon mimic the design of their product and to protect its product, it is now seeking a__.
a. copyright
b. patent
c. trademark
d. certification
b. patent
The TRIPS agreement was designed to
a. Exclude China from all intellectual property agreements
b. Oversee a much stricter enforcement of intellectual property regulations
c. Hold a firm and its officers responsible when a product causes injury, death or damage
d. Support traded software and recorded property among developed markets
b. Oversee a much stricter enforcement of intellectual property regulations
