Global_Business_Additional_Flashcards (1)
(10 cards)
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What is a forward transaction in the foreign exchange market?
A deal to exchange currency at a set rate on a future date to manage risk from fluctuations.
What does a copyright protect?
Creative works like books, music, and films from unauthorized use.
What does a patent protect?
Inventions and processes, giving the holder exclusive rights to use and license them.
What does a trademark protect?
Distinctive signs, logos, or expressions that identify products or services.
What is theocratic law?
A legal system based on religious teachings.
How does totalitarianism differ from democracy?
Totalitarianism is centralized and suppresses opposition; democracy involves free elections and civil liberties.
What is a market economy?
An economy where supply and demand determine production and prices with minimal government intervention.
What is a mixed economy?
An economy combining elements of both market and command systems, with government and private sector participation.
What is a command economy?
An economy where the government controls production, pricing, and distribution of goods and services.
