BUS 200 Module 4

What is the primary focus of a political system?

• Cultural norms

• Structures and processes for governing a nation

• Economic development

• Legal procedures

Which political system is characterized by centralization of power and restricted participation?

• Democracy

• Anarchism

• Totalitarianism

• Collectivism

In a theocracy, political leaders are:

• Elected officials

• Military leaders

• Religious leaders

• Business executives

What economic system primarily relies on private ownership and free markets?

• Mixed Economy

• Market Economy

• Centrally Planned Economy

• State Capitalism

What does a centrally planned economy emphasize?

• Free enterprise

• State ownership and planning

• Religious guidance

• Environmental sustainability

Which legal system is based on precedent and court rulings?

• Civil Law

• Common Law

• Theocratic Law

• Statutory Law

Which country is an example of a mixed economy?

• North Korea

• Denmark

• United States

• Saudi Arabia

Intellectual property laws protect:

• Real estate

• Inventions and creative works

• Natural resources

• Personal savings

Which economic system uses government ownership for political gain while allowing market competition?

• Centrally Planned

• State Capitalism

• Market Economy

• Mixed Economy

What is the primary purpose of antitrust regulations?

• Protect patents

• Ensure product safety

• Promote fair competition

• Control inflation