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






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






3. Production and consumption at local levels for community survival






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






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






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






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






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






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






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






11. 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






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






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






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






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






16. Production and consumption at local levels for community survival






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






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






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






20. Location economies created through formal interactions between firms






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






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






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






24. Consumption - investment and government expenditures. net exports






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






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






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






28. Beneficial spillover on another party






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






30. 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






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






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






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






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






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






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






37. Beneficial spillover on another party






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






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






40. Consumption - investment and government expenditures. net exports






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






42. Location economies created through formal interactions between firms






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






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






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






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






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






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