Test your basic knowledge |

Global Economy Basics

Subjects : literacy, economics
Instructions:
  • Answer 48 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. How the various steps in a production process tasks are assigned to different workers






2. Worldwide processes through which the world - its economic systems - and societies tend to become more uniform - more integrated - and more interdependent






3. How the various steps in a production process tasks are assigned to different workers






4. Location economies created through formal interactions between firms






5. Most people work for wages - then purchase goods and services to consume






6. Free enterprise - private ownership of production - market-based exchange






7. A graduated series of geographical terms used to classify or organize spaces - places - or processes






8. Shift in location of a part of company's production process to a location that is 'close' to the company's home location - but in order to take advantage of reduced labor costs






9. Emphasizes social relationships and process that create or modify their characteristics






10. Markets have been extended in geographical scope through international agreements to open national territories to trade and investment






11. As incomes rise - a lower proportion of income is spent on food


12. Free enterprise - private ownership of production - market-based exchange






13. Directed enterprise - state ownership of production - quota/planned distribution






14. An unintended consequence or cost that adversely affects an entity that was not involved






15. Those that tend to use older production technologies and lack newest products






16. A cost or damage that spills over on another party






17. Consumption - investment and government expenditures. net exports






18. Consumption - investment and government expenditures. net exports






19. Most people work for wages - then purchase goods and services to consume






20. Generic categories of elements that are required for production of a good or service to occur






21. Beneficial spillover on another party






22. Creations of the min including inventions - creative artistic works - as well as symbols - names - and designs






23. Those with highest degree of use of new technologies for production and highest degree or range of new products






24. Beneficial spillover on another party






25. Those that tend to use older production technologies and lack newest products






26. A graduated series of geographical terms used to classify or organize spaces - places - or processes






27. Production and consumption at local levels for community survival






28. Production and consumption at local levels for community survival






29. Production - price - exchange - and distribution regulated by custom






30. An unintended consequence or cost that adversely affects an entity that was not involved






31. Markets have been extended in geographical scope through international agreements to open national territories to trade and investment






32. Education - knowledge - skills - and abilities of a labor force






33. Generic categories of elements that are required for production of a good or service to occur






34. Worldwide processes through which the world - its economic systems - and societies tend to become more uniform - more integrated - and more interdependent






35. Directed enterprise - state ownership of production - quota/planned distribution






36. Location economies created through formal interactions between firms






37. Production - price - exchange - and distribution regulated by custom






38. Education - knowledge - skills - and abilities of a labor force






39. Those with highest degree of use of new technologies for production and highest degree or range of new products






40. A from of international economic integration in which member countries have free trade and the same trade policies toward all non-member countries






41. Shift in location of a part of company's production process to a location that is 'close' to the company's home location - but in order to take advantage of reduced labor costs






42. Creations of the min including inventions - creative artistic works - as well as symbols - names - and designs






43. Emphasizes social relationships and process that create or modify their characteristics






44. A from of international economic integration in which member countries have free trade and the same trade policies toward all non-member countries






45. Process of growth - change - and differentiation of an economy






46. As incomes rise - a lower proportion of income is spent on food


47. A cost or damage that spills over on another party






48. Process of growth - change - and differentiation of an economy