Summary International business operations and activities are faced with various difficulties due to political, cultural, and legal differentials amid different countries. Different nations advance their economy at dissimilar rates and thus yield varying economic growth as well as development. Political systems and legal structures in a given country determine how successful and healthy the economy ranks. The government and its functional bodies thus represent an important facet in shaping business stability and performance. Collective systems of governance put more emphasis on collective goals rather than personal goals while individualized systems emphasize personal goals. Socialism tries to encourage business people to enhance democratic rights in order to create an active market, both locally and internationally. Government owned corporations perform poorly due to lack of accountability (Hill, 2011). Therefore, the freedom of enterprise and decision making advocated by individualized economy is essential to valuable economic performance. Citizens oversee a democratic political stance, either directly or through elective seats. Thus, political systems make decisions that represent the will of the people and thus minimize abuse of power. In a totalitarian political system, a single party or individual makes decisions, exercises total powers and controls all functions. In this case, citizens are not represented, and hence cases of rights violation and irregular policies are rampant. A perfect market economy functions to offer quality services to all. Therefore, demand along with supply forces determines economic status. However, monopolistic markets take advantage of few suppliers in relation to consumers, and exploit consumers by charging higher prices than would be at equilibrium (Hill, 2011). In a political system, legal system is important in order to set rules and laws to be followed by each person. What I learned The legal system guides business relations by applying the law of contract that ensures that parties fulfill their pledges. Therefore, governments get involved in businesses by formulating policies and laws that effectuate the aspect of advanced economic activities and relations. The role of the political system includes ensuring that individual property rights are safeguarded. This prevents theft and misuse and hence guarantees maximum utilization for personal and national benefit. However, this aspect is different in various nations due to policy differential and the level of compliance with the law. Corruption jeopardizes economic activities and thus hinders growth and development in countries highly affected. Therefore, fighting corruption is essential in ensuring valuable and efficient national growth and international business’ competitive base (Hill, 2011). Intellectual rights include patents, trademarks, and copyrights that protect an individual’s work such as music, formulas, and other innovations. The government should implement policies aimed at maximum protection of personal ideas in order to guarantee international competition. Economic development is affected by political, legal, as well as economic systems. Different c