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






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






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






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






5. Consumption - investment and government expenditures. net exports






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






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






8. Production and consumption at local levels for community survival






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






10. 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






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






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






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






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






15. Beneficial spillover on another party






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






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


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






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






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






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






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






23. 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






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






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






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


27. Consumption - investment and government expenditures. net exports






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






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






30. Location economies created through formal interactions between firms






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






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






33. Beneficial spillover on another party






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






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






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






37. Production and consumption at local levels for community survival






38. Location economies created through formal interactions between firms






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






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






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






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






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






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






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






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






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






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