1. How does your textbook define the legal environment of business?
2. Distinguish between the pairs of terms in each of these classifications of law:
a. public law, private law
b. felonies, misdemeanors
3. Define the term jurisdiction.
4. Briefly explain the differences between the Federal Court System and the State Court System.
5. Briefly explain the role of the Constitution in the United States. Why is the separation of power so important? What would happen if one branch became more powerful than another?
6. Why should you, as a businessperson, be knowledgeable of the basic protection that the Constitution offers?
7. How does the Commerce Clause affect federal regulation of business activities? How does it affect state regulation of business activities?