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






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






4. Consumption - investment and government expenditures. net exports






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






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






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






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






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






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






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






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






13. Location economies created through formal interactions between firms






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






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






16. Beneficial spillover on another party






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






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






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






20. Beneficial spillover on another party






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






22. Consumption - investment and government expenditures. net exports






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






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






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






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






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






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






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






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


32. Production and consumption at local levels for community survival






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






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






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






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






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






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






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






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






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






42. Production and consumption at local levels for community survival






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






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


46. Location economies created through formal interactions between firms






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






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