I.

Based on your understanding, define and/or explain the following: (3 points each)
1. Culture
A culture is a behavioral orientation that is unique to a particular group of
people consisting of the behaviors, beliefs, values, and symbols that they accept
without question and pass down through the generations through
communication and imitation. It encompasses etiquette, dress, language,
religion, rituals, and art.

2. laissez-faire
It refers to a system or point of view that rejects government regulation or
meddling in economic matters beyond what is required to allow the free business
system to function according to its own laws

3. Contract
A contract is a written or oral agreement between two or more parties that
generates mutual obligations and is intended to be enforced by law. A contract
usually entails the exchange of products, services, money, or a commitment to
exchange any of these.

4. Class consciousness
Class consciousness is an awareness or knowledge of social standing and caste
systems, often based on wealth or family background and history.

5. Ethnocentrism
Ethnocentrism is the belief that one's own culture, ethnic group, race, or other
characteristics are superior to those of others. A judgment we make based on our
own culture; we tend to assume that what we do in our own culture is right, rather
than what other cultures do. Example when we judge the taste of Chinese in
eating insects as 'gross' or 'disgusting' merely because we are not accustomed to
eating them, we are instantly saying that our own culture's food choices or
practices are more typical than theirs, and hence better and less 'disgusting.'

II. TRUE OR FALSE: Write TRUE if the statement is correct, and FALSE if the
statement is wrong.
TRUE1. The communists believed that socialism could be achieved only through violent
revolution and totalitarian dictatorship.
FALSE2. In individualism, an individual’s right to do something may be restricted on the
grounds that it runs counter to the good of society” or to the common good.
FALSE3. Since English is widely used in International Business, learning local language
do not have an advantage.
TRUE4. In reality, many Muslim countries have legal systems that are a blend of Islamic
law and a common or civil law system.
FALSE 5. Totalitarianism is based on the belief that the people should be directly
involved in decision making.
FALSE6. Philippines is an example of totalitarian form of Government.
TRUE7. The role of government in a market economy is to encourage vigorous free and
fair competition between private producers.
TRUE8. Most of the world’s ethical systems are the product of religions.
TRUE9. The legal system is influenced by the prevailing political system.
The Philippine legal system today is a unique blending of common law and civil law
principles. 10.Philippines is only a Common Law Type of Government.
FALSE11. Engaging in International Business is the same with engaging in Domestic
Business.
FALSE12. Contracts drafted under civil law tend to be very detailed with all
contingencies spelled out.
FALSE 13. The reason behind law governing intellectual property is to reward the
originator of a new invention for his or her idea and effort.
TRUE14. The legal environments of countries is the same different aspects.
TRUE15. In a totalitarian country, all the constitutional rights are denied to the citizens.

III. Distinguish the following: (5 points each)

1. Patent, Copyright and Trademarks
Patents gives an inventor the right to stop other people making or using
their invention while copyright is more to do with protecting someone's
literary and artistic skills. A trademark is used for symbols or slogans a
business might use to set its product or service apart from competitors. It
secures the branding under which products and services are sold .

2. Values and Norms

 Individual beliefs that drive people to act in certain ways are referred to as
values. They act as a set of guidelines for human behavior. They're
probably the measures you use to tell if your life is turning out the way you
want it to. While norms are guidelines and expectations that describe how
people should and should not act in certain social contexts.

3. Caste System and Class System

The caste system assigns each member of society a social status and a
means of social interaction. It allocates a person to a specific caste from
birth and then channels their lives for the rest of their lives. While the class
structure is open, people are free to pursue higher education or
employment than their parents. They can also associate with and marry
people from other classes, allowing them to shift from one to the next.
occupation is not fixed at birth.