POSSIBLEA QUALITY UPDATED EXAMS

Major Factors of Economic Strength in a Nation -Correct Answer Poverty, The Dependency Theory, Climate, Education and Technology, Law & The Legal System, Natural Resources, The Private Market The Dependency Theory -Correct Answer The idea that strong nations exploit the labor and resources of weaker nations. It argues that some nations grow and prosper at the expense of others. This leads to weaker nations becoming overly dependent on foreign goods and services, thus perpetuating their weakne...

Which courts have multiple judges and can affirm/reverse the decision of lower courts and remand (redo) the trial with new information -Correct Answer appellate courts What is it called in a case where plaintiffs and defendants are citizens of different states -Correct Answer diversity of citizens How many federal circuit courts are there -Correct Answer 13 Which Supreme Court case formed the basis for the exercise of judicial review in the united states under Article III of the US cons...

jurisprudence -Correct Answer the science or philosophy of law (judges precedent or interpretation) property law -Correct Answer the legal right to exclude others from various resources. also called "ownership" constitutional law -Correct Answer establishes the framework of the state whose purpose is to protect property in its broadest sense criminal law -Correct Answer provides public protection for private resources and punishes those who harm them Tort Law -Correct Answer pr...

Law -Correct Answer A formal social force established by the government that must be enforced to actually matter Rule of Law -Correct Answer Laws that are made are generally and equally applicable Property -Correct Answer The right of ownership given to a citizen; a "legal fence" Public -Correct Answer Examples of this type of property are roads, schools, monuments, and parks Private -Correct Answer Examples of this type of property are individually owned cars or houses Comm...

3 concepts for functioning market -Correct Answer Law- most significant and formal rules established by the gov Rule of Law - laws generally and equally applicable to all Property -enables party that owns property to keep other from interfering 3 Types of Property -Correct Answer Public, Private, Common jurisprudence -Correct Answer philosophies that explain the origin of law and its justification ownership -Correct Answer the right to turn to public authorities like the police or th...

intellectual property -Correct Answer a product of the intellect, such as an expressed idea or concept, that has commercial value what article protects intellectual property? -Correct Answer article 1 section 8 justification -Correct Answer justifications are variously focused upon the activities of the creator of an intangible asset, its would-be user, and the community in which the creator operates importance -Correct Answer creates incentives by providing exclusivity competition -...

business people in the United States must... -Correct Answer be aware of the legal and regulatory landscape and take steps to ensure full compliance with the law to avoid civil and criminal liability law must be... -Correct Answer enforced and adequate rule of law -Correct Answer all laws are generally and equally applicable to everyone; more of an ideal; wealthier nations generally all follow a rule of law Chief Justice Roberts view regarding the rule of law... -Correct Answer if the C...

white collar crime -Correct Answer any illegal offense that occurs in a business or professional setting felony -Correct Answer -indictment / grand jury -fine or imprisonment greater than 1 year misdemeanor -Correct Answer -information / gov charge -fine or jail less than 1 year intent -Correct Answer willfully or knowingly pleas in criminal cases -Correct Answer guilty, not guilty, nolo contendere (no contest) trends in white collar crime -Correct Answer -increase in protection...

contracts -Correct Answer legally enforceable promise or exchange of promises bilateral -Correct Answer type of contract where both parties have obligations in the contract unilateral -Correct Answer type of contract where only one party has an obligation express -Correct Answer type of contract that is directly stated with words that set out terms implied-in-fact -Correct Answer type of contract that conduct the parties evidencing their intent to enter the contract (by actions you h...

IRAC -Correct Answer what is the test to determine what a law is issue, rule, analysis, conclusion -Correct Answer what does IRAC stand for rule of law -Correct Answer laws are generally and equally applied and requires solid, stable institutions (no one is above the law) property -Correct Answer the right to possess resources and shield from others common law -Correct Answer judge-made law stare decises -Correct Answer precedent; let the prior decision stand civil law -Correct...