Table of Contents
Which of the following establishes a uniform set of rules governing?
The CIGS establishes a uniform set of rules governing certain aspects of the making and performance of everyday commercial contracts between sellers and buyers who have their places of business in different nations.
Which of the following refers to the legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource?
One in which the law is based on religious teachings. Refers to a resource over which an individual or business holds a legal title. Property Rights. Refers to the legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource.
When emphasized an individual’s right to do something may be restricted on the grounds that runs counter to the good of society?
When collectivism is emphasized, an individual’s right to do something may be restricted on the grounds that it runs counter to “the good of society.”.
Is a legal system which is based on a detailed set of laws organized into codes?
Civil law: based on detailed set of laws organized into codes – its core principles are codified into a referable system which serves as the primary source of law.
What condition paves the way for an ideal representative democracy?
What condition paves the way for an ideal representative democracy? the welfare of the society is best served by a governing body dictating what is in the society’s best interest.
Which of the following is a reason that command economies tend to stagnate quizlet?
Which of the following is a reason that command economies tend to stagnate? The abolition of private ownership means there is no incentive for individuals to look for better ways to serve consumer needs.
What are the 4 property rights?
The main legal property rights are the right of possession, the right of control, the right of exclusion, the right to derive income, and the right of disposition. There are exceptions to these rights, and property owners have obligations as well as rights.
What are the 3 property rights?
Thus, the three basic elements of private property are (1) exclusivity of rights to choose the use of a resource, (2) exclusivity of rights to the services of a resource, and (3) rights to exchange the resource at mutually agreeable terms.
Which of the following is the most widely practiced theocratic legal system in the world today?
Islamic law is the most widely practiced theocratic legal system today.
Which of the following is a law system based on a detailed set of laws organized into codes quizlet?
Which of the following is a law system based on a detailed set of laws organized into codes? theocratic law system.
Which of the following is a political reason for governments to intervene in markets?
The government tries to combat market inequities through regulation, taxation, and subsidies. Governments may also intervene in markets to promote general economic fairness. Maximizing social welfare is one of the most common and best understood reasons for government intervention.
What individualism emphasizes?
individualism, political and social philosophy that emphasizes the moral worth of the individual.
What is a civil law system based on?
Civil law systems, also called continental or Romano-Germanic legal systems, are found on all continents and cover about 60% of the world. They are based on concepts, categories, and rules derived from Roman law, with some influence of canon law, sometimes largely supplemented or modified by local custom or culture.
Is based on tradition precedent and custom?
is based on tradition, precedent, and custom. A civil law system tends to be less adversarial that a common law system, since the judges rely upon detailed legal codes rather than tradition, precedent and custom which they interpret.
What is a common law legal system?
Common law is law that is derived from judicial decisions instead of from statutes. Though most common law is found at the state level, there is a limited body of federal common law–that is, rules created and applied by federal courts absent any controlling federal statute.
How does democracy contribute to stability in the society?
Democracy is associated with higher human capital accumulation, lower inflation, lower political instability, and higher economic freedom. Democracy is closely tied with economic sources of growth, like education levels and lifespan through improvement of educative institutions as well as healthcare.
What are the basic ideals of democracy?
Cornerstones of democracy include freedom of assembly, association and speech, inclusiveness and equality, citizenship, consent of the governed, voting rights, freedom from unwarranted governmental deprivation of the right to life and liberty, and minority rights.
What are the key factors of democracy?
He describes democracy as a system of government with four key elements: i) A system for choosing and replacing the government through free and fair elections; ii) Active participation of the people, as citizens, in politics and civic life; iii) Protection of the human rights of all citizens; and iv) A rule of law in.
In which of the following economies would the government be most likely to take into state ownership?
In mixed economies, governments also tend to take into state ownership troubled firms whose continued operation is thought to be vital to national interests.
Which of the following is a step involved in the deregulation of a command economy?
Which of the following is a step involved in the deregulation of a command economy? balancing the benefits, costs, and risks associated with doing business in that country. large amounts of economic activity may be in the form of barter agreements.
Is required for a business environment to be conducive to innovation and entrepreneurial activity?
What is required for the business environment of a country to be conducive to innovation and entrepreneurial activity? A market economy. Strong legal protection of property rights is another requirement for a business environment to be conducive to innovation, entrepreneurial activity, and hence economic growth.
How property rights can be enforced?
A property can be secured only by following the set of laws and regulations that are enforced by the government. The property rights and ownership of a property can be claimed through copyrights and patents to protect the following: Diminishing supplies, such as land and natural resources.
How are property rights protected?
The Constitution protects property rights through the Fifth and Fourteenth Amendments’ Due Process Clauses and, more directly, through the Fifth Amendment’s Takings Clause: “nor shall private property be taken for public use without just compensation.” There are two basic ways government can take property: (1) outright.
What is the basis of the right to property?
The protection of property is included in Article 17 UDHR: ‘Everyone has the right to own property alone as well as in association with others. No one shall be arbitrarily deprived of his property.
