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When a Nation Moves from a State-Controlled Economy Toward Free

question 38

Essay

When a nation moves from a state-controlled economy toward free enterprise,it must develop a new set of business laws.If you could start from scratch,what kind of business law system would you adopt-a civil law system or a common law system? What factors should be considered in deciding the business regulations to impose?


Definitions:

Service Charge

A fee collected to pay for services related to the primary product or service being purchased.

Airport Currency Exchange

Facilities located within airports where travelers can exchange one country’s currency for another's, typically at market rates.

Exchange Rate

The price at which one currency can be exchanged for another currency.

Units

Refers to a measure of quantity or amount in a specified dimension such as length, mass, time, etc., or in the context of economics and finance, the smallest portion of a product or financial instrument.

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