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






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






3. Consumption - investment and government expenditures. net exports






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






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






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






7. 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






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






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






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






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






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






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






14. Beneficial spillover on another party






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






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






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






18. Location economies created through formal interactions between firms






19. Consumption - investment and government expenditures. net exports






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






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






22. Production and consumption at local levels for community survival






23. Beneficial spillover on another party






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






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






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






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






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






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






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






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






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






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






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






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






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






37. Location economies created through formal interactions between firms






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






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






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






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






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






43. 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






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. Production and consumption at local levels for community survival






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






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






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