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






2. Consumption - investment and government expenditures. net exports






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






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






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






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






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






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

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9. Beneficial spillover on another party






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






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






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






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






14. Production and consumption at local levels for community survival






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






16. 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






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






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






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






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






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






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






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






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






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






26. 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






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






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






29. Production and consumption at local levels for community survival






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






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






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






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






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






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






36. Beneficial spillover on another party






37. Location economies created through formal interactions between firms






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






39. Consumption - investment and government expenditures. net exports






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






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






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






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






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






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






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

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48. Location economies created through formal interactions between firms