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






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






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






5. 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






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






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






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

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






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






11. Location economies created through formal interactions between firms






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






13. 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






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






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






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






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






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






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






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






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






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






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






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






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






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






27. Consumption - investment and government expenditures. net exports






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






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






30. Production and consumption at local levels for community survival






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






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

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






34. Production and consumption at local levels for community survival






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






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






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






38. Beneficial spillover on another party






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






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






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






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






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






44. Location economies created through formal interactions between firms






45. Beneficial spillover on another party






46. Consumption - investment and government expenditures. net exports






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






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







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Can you answer 50 questions in 15 minutes?


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