bus d 300 chapter 2
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all production activities are privately owned, the goods and services that are produced are not planned by anyone. it is determined by the supply and demand through the pricing system
the government plans the goods and services that are produced, the quantity and the price
certain parts of the economy are left to private ownership, while other sectors have significant state ownership and government planning
Common Law, Civil Law, Theocratic Law
- is based on tradition precedents, and tradition (US)
- is based on detailed set of laws organized into codes (france, russia, germany)
- is one in which the law is based of religious teachings Islamic law is the same
Foreign Corrupt Practices Act
- this law make it illegal to bribe foreign government officials to obtain or maintain business over which that foreign officials have authority.
- grease payment and stop payment are allowed
patents, copyright, trademarks
- -grant the inventor of a new product or process exclusive rights for a defined period to make use or sale
- -are the exclusive legal rights to author, composers, playwrights, artist
- -are names and designs that manufacturers or merchants use to designate and differentiate there products
World Intellectual Property Organization
all of which have signed international treaties designed to protect intellectual property
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