Introduction Economic systems are organized way in which a state or nation allocates its resources and apportions goods and services in the national community. An economic system is slackly defined as country’s plan for its services‚ goods produced‚ and the exact way in which its economic plan is carried out. There are three types of economic systems exist‚ they are command economy‚ market economy‚ and mixed economy. Command economy is also sometimes called planned economy. The expectations
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Objectives Describe each main type of political system. Identify the origins of political risk and how managers can reduce its effects. List the main types of legal systems and explain how they differ. Describe the major legal issues facing international companies. Explain how international relations affect international business activities. This chapter is designed to introduce the student to the various types of political and legal systems in existence around the world today and
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lePolitical and Legal Factors The Great FireWall of China: At the forefront of Google’s numerous court and legal battles over the years is its endeavours in trying to crack the world’s internet market‚ China. Google had first started offering a Chinese translated version of its Google.com site in 2000‚ but Chinese users often struggled to connect or experienced problems online due to poor service from the countries licensed ISP’s (internet service providers). China’s government heavily restricts
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The Dutch Legal System The Kingdom of the Netherlands was founded in 1813. It was part of France from 1795 until 1813‚ before 1795 the greater part of the current territory was governed by a confederation of sovereign provinces. Government Structure ’Central government is a constitutional monarchy with a parliamentary system. Since 1814 there has been a hereditary monarchy occupied in turn by Kings William I‚ William II and William III‚ followed by the Princess Regent Emma and Queens Wilhelmina
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Irish system was introduced following the Treaty of 1922. Up to that time‚ all laws and legislation were formed‚ enacted and enforced by the United Kingdom‚ which had effectively ruled Ireland for over 600 years. As a result of that position‚ the laws that followed and that were enacted in the “new” Ireland reflected many of the laws already on the statute books. The formation of the Irish Constitution also reflected many of the established formats that had existed under the English system. Although
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Egypt Political System: Egypt has offered humanity the oldest political system ever. Along the River Nile’s bank‚ the first central‚ unified state in the world was formed. Egypt had the precedence in creating the life of a whole nation through the formation of organizational frameworks that had an important role in maintaining the values of democracy and freedom. Egypt’s permanent constitution (issued in September 1971and later amended on May 22 1980) regulates the State’s political system and determines
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The Political-Legal Environment consists of laws and their interpretations that require firms to operate under competitive conditions and to protect consumer rights for example‚ Health and Safety and Consumer Protection. Government regulations are the forces that combat unfair business practices and serve as a guideline to avoid such discrepancies. There are four historical phases the government regulations falls into: • Antimonopoly period of the late 19th and early 20th centuries • Protecting
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An economic system in which economic decisions are made by the state or government rather than by the interaction between consumers and businesses. Unlike a market economy in which production decisions are made by private citizens and business owners‚ a centrally planned economy seeks to control what is produced and how resources are distributed and used. The production of goods and services is undertaken by state-owned enterprises. Centrally planned economies assume that the market does not work
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Third Yr – BSCS December 10‚ 2010 SOCSCI05 (Economics) An Overview with the Economic Systems of Three Countries Every country in the world has an economic system that would probably help them to fulfill the needs of their citizens. An economic system is the structure of production‚ allocation of economic inputs‚ distribution of economic outputs‚ and consumption of goods and services in an economy. Actually‚ there are many types of economic systems that were spread out throughout the world
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Economic Systems The way a country’s resources are owned and the way that country takes decisions as to what to produce‚ how much to produce and how to distribute what has been produced determine the type of economic system that particular country practises. 1. MARKET ECONOMY (also called FREE ENTERPRISE ECONOMIES or CAPITALIST ECONOMY) 2. CENTRALLY – PLANNED or CONTROLLED ECONOMY 3. MIXED ECONOMY 1. MARKET ECONOMY in comparison to 2. PLANNED ECONOMY e.g. USA‚ Japan Private firms
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