Industry privatization - Study guides, Class notes & Summaries

Common Law - ANSWER-Judges interpret the law, and judicial rulings can set precedent Religious Law - ANSWER-Is based on religious guidelines Customary Law - ANSWER-Can vary from community to community and is found in countries without strong formal justice systems Canon Law - ANSWER-This system is the body of laws and regulations made by a religious authority governing communities Special Drawing Rights - ANSWER-The international type of monetary reserve currency created by the IMF TRIP...

Business - correct answer Organization that provides goods or services for profit Profit - correct answer differences between a business's revenues and its expenses External Environment - correct answer everything outside an organization's boundaries that might affect it Economic System - correct answer nation's system for allocating its resources among citizens Factors of production - correct answer resources used in the production of goods and services- labor, capital, entrepren...

What is a characteristic of the International Monetary Fund (IMF)? - The IMF is a cooperative institution and provides more effective currency exchange. What was the initial purpose of the International Monetary Fund (IMF) in phase one, prior to 1973? - Regulated currency exchange between nations Privatization - Selling government holdings to private companies Deregulation - The removal of regulations or restrictions in a particular industry How does the International Monetary Fu...

PHI 445 Week 2 Quiz Question 1 Which of the following statements is a criticism of capitalism? It allows too much government intervention for the purpose of monitor businesses. Centralization is an ineffective way to structure the economy. It allows large and powerful businesses to lobby the government against consumer interests. Consumers have a difficult time taking advantage of return policies or suing for wrongdoing. Question 2 Antitrust acts such as the Sherman Antitrust...

Free Trade - ANSWER-refers to a policy or practice of allowing goods and services to be traded between countries with minimal or no government-imposed restrictions, such as tariffs, quotas, or trade barriers Economies of Scale - ANSWER-cost advantages that result from an increase in the scale of production or operation of a business. As production quantities increase, the average cost per unit of output decreases First Mover Advantages - ANSWER-refer to the benefits that a company can gain...

Social Studies 10-1: Unit 3 - Economic Globalization Practice Questions and Answers 100% Pass Nationalize - Answer- The taking over of ownership by a government from private businesses Common Market - Answer- An agreement between or among countries that includes the free trade of goods and services and the free movement of capital and labour within the trading bloc International Bank for Reconstruction and Development (IBRD) - Answer- An institution of the World Bank that helps low & mi...

PHI 445 Week 2 Quiz Question 1 Which of the following statements is a criticism of capitalism? It allows too much government intervention for the purpose of monitor businesses. Centralization is an ineffective way to structure the economy. It allows large and powerful businesses to lobby the government against consumer interests. Consumers have a difficult time taking advantage of return policies or suing for wrongdoing. Question 2 Antitrust acts such as the Sherman Antitrust...

PHI 445 Week 2 Quiz Question 1 Which of the following statements is a criticism of capitalism? It allows too much government intervention for the purpose of monitor businesses. Centralization is an ineffective way to structure the economy. It allows large and powerful businesses to lobby the government against consumer interests. Consumers have a difficult time taking advantage of return policies or suing for wrongdoing. Question 2 Antitrust acts such as the Sherman Antitrust...

US Government hires private contractors to carry mail by air. Represents the start of aviation. - Air Mail Act of 1925 (Kelly Act) The Civil Aeronautics Board (CAB) was charged with these three things: - "1) Making Safety rules 2) Conducting aircraft investigations 3) economic regulation of airlines" This Act split the CAA into two agencies, the CAA and the CAB. - Reorganization Act of 1940 What phased out CAB economic regulation of airlines? - "Airline Deregulation Act of 1978 The C...

PHI 445 Week 2 Quiz Question 1 Which of the following statements is a criticism of capitalism? It allows too much government intervention for the purpose of monitor businesses. Centralization is an ineffective way to structure the economy. It allows large and powerful businesses to lobby the government against consumer interests. Consumers have a difficult time taking advantage of return policies or suing for wrongdoing. Question 2 Antitrust acts such as the Sherman Antitrust...