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. A cost or damage that spills over on another party






3. Location economies created through formal interactions between firms






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






5. Beneficial spillover on another party






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






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






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






10. Beneficial spillover on another party






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






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






13. Consumption - investment and government expenditures. net exports






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






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






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






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






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






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






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






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






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






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






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






25. Production and consumption at local levels for community survival






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






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






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






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






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






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






32. Production and consumption at local levels for community survival






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






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






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






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






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






38. Consumption - investment and government expenditures. net exports






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






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






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






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






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






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






46. Location economies created through formal interactions between firms






47. 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






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