The British East India Company was set up on December 31, 1600 for the exploitation of trade with Southeast Asia and India. Starting as a monopolistic trading body, the company became involved in politics and acted as an agent of British imperialism in India from the early 18th century to the mid-19th 

The illicit market

Social contract theory depends on the assumption that the individuals might voluntarily bind themselves to the certain principles. 

Numbered views as I, III, and V belong to Liberal institutionalists.

As opposed to the predominant win-win nature of conventional trade interactions, special concerns have arisen about trade competition in high-tech sectors, such as telecommunications, advanced materials, computers, bio-chemicals, and so on. Economies of scale dictate that only a few countries actually enjoy the presence of a critical industry that has important economic and defense ramifications. For instance, the United States, Japan, Russia, European countries, and other great powers all want to be the major producers in telecommunications, microelectronics, military equipment, and other advanced products. The correct answer is C.

The nationalists also believe that closing off an economy to external influences can be beneficial to growth and economic progress. Thus, economic nationalism can be defined as a mixture of trade protectionism and economic planning, with an aim to preserve national interests in the context of world markets.

International society is defined by four components: common interests, common rules, common values and common institutions.

LIBERAL AND REALIST APPROACHES TO REGIMES

Liberal institutionalists
1 Regimes enable states to collaborate.
2 Regimes promote the common good.
3 Regimes flourish best when promoted and maintained by a benign hegemon.
4 Regimes promote globalization and a liberal world order.

Therefore, the correct option is C.

Delegates from 44 countries met in the United States, in Bretton Woods, New Hampshire in July 1944. The main goals were to ensure a foreign exchange rate system, prevent competitive devaluation, encourage international trade, and eventually promote economic growth. With the intention of realizing these goals, the Bretton Woods Agreement was signed on July 22, 1948, whereby the so-called Bretton Woods system came into being. In 1958, the Bretton Woods system became fully functional, as national currencies became convertible.

The expression that regimes flourish best when promoted and maintained by a benign hegemon belongs to Liberal institutionalists.

John Locke is one of the thinkers who developed the social contract theory.

Gross Domestic Product (GDP) is a monetary measure of the market value of all the final goods and services produced in a country in a period (usually yearly) of time.

The classical liberalism can be traced back to ancient thinkers and has its roots in the Stoic philosophy. It was developed as a “political” theory in the 17th century by writers like John Locke whose philosophical and theological defense of property rights and religious toleration inspired other liberal thinkers.

There are six key concepts of classical liberal philosophy that are commonly mentioned by the liberal writers, these are; individualism, freedom, natural law, spontaneous order, rule of law and limited state

English School and Constructivist School too have similarities and differences. They both strive to show the social bases of international relations and for both of them society is constructed with norms and institutions. They also stress the
significance of norms and other ideational factors such as identity and values. Yet again there are key differences. As Buzan (2014, 33) pointed out the
“English School has its main roots in the study of history, political theory and international law, whereas Constructivism grew out of debates about epistemology and method.

The principle of non-intervention involves the right of every sovereign State to conduct
its affairs without outside interference; …“the principle forbids all States or groups of States to intervene directly or indirectly in the internal or external affairs of other States” and that “a prohibited intervention must accordingly be one bearing on matters in which each State is permitted, by the principle of State sovereignty, to decide freely. Intervention is wrongful when it uses methods of coercion in regard to such choices, which must remain free ones.” In this sense, the correct answer is E.

Locke’s arguments for the social contract, and for the right of citizens to revolt against their king were enormously influential on the democratic revolutions that followed, especially on Thomas Jefferson, and the founders of the United States.

Through globalisation and internationalism in the post Cold War era, it was argued that trade discrimination would be a thing of the past. The observable reality indicates that this is not the case, with localised trade agreements such as the EU and NAFTA being established and providing preferential benefits to member states.

The history of MNCs is closely related to the history of colonialism. Some of the first multinationals were directed by European monarchs in order to conduct expeditions. Many of the colonies that were not held by Spain or Portugal were under the administration of some of the world’s earliest multinationals. The East India Company, which showed up in as early as 1660, founded by the British, was one of them. It was headquartered in London and took part in international trade and exploration with trading posts in India. Some other examples include the Swedish Africa Company, founded in 1649, and the Hudson’s Bay Company, which was incorporated in Canada in the 19th century. However, the MNCs, as we know today, did not really appear until the 19th century. That was due to the rise of industrial revolution. The development of the factory system; that is, capital-intensive manufacturing processes, combined with better storage techniques and faster transportation, rapidly brought about the emergence of many MNCs. During the 19th and early 20th century, the search for natural resources and pressure to protect or increase markets drove transnational expansion by companies almost exclusively from the United States and Western Europe. As also understood from the information given, all statements with regard to the history of MNCs in the options are correct, so the correct answer is E.

Right after the Second World War, the United States-based MNCs heavily dominated foreign markets for a few years. Then from the 1950s on, European and Japanese MNCs started to show up and in time, they quickly increased in number. At the same time, major technological advances in shipping and communication accelerated the expansion of these MNCs almost all over the world. By the early 1970s, major MNCs had come to control about 70-80 percent of the world trade outside the centrally planned economies. Over the past half century, particularly after the end of the Cold War, there has been an obvious proliferation of MNCs. For example, while in 1970, there were some 7.000 parent MNCs, today that number has jumped to roughly 38.000. Approximately 90 percent of them is based in the industrialized world, controlling over 207.000 foreign subsidiaries. The large number of MNCs can be somewhat misleading, however, since the wealth of MNCs is actually concentrated among the top 100 firms (Greer and Singh, 2018).

Regime theory is a theory for explaining and understanding the international cooperation intending the coordination and harmonization of interest among nations. In fact, international cooperation which means mutual harmonization of policies benefitting to all sides are widely seen in world politics. On the other hand, states in fact would hesitate to form regime in the field of their sovereignty, because regime would limit the sovereign rights of states in those areas in favor of international inspection and sharing their powers with other states. In particular, states would not be willing to share their power about legitimate use of power for internal issues. So they don’t prefer to establish common regimes in these domestic issues if they do not perceive a real threat to their rights inside the country. The correct answer is C.

Social contract theory depends on the assumption that the individuals might voluntarily bind themselves to the certain principles. From this point, like stag hunt model of game theory, individuals would sacrifice their small satisfactions to reach a highest satisfaction.