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






2. 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






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






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






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






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






7. Consumption - investment and government expenditures. net exports






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






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






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






11. Location economies created through formal interactions between firms






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






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






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






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






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






17. Consumption - investment and government expenditures. net exports






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






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






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






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


22. Beneficial spillover on another party






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






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






25. Production and consumption at local levels for community survival






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






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






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






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






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






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






32. 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






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


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






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






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






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






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






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






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. Production and consumption at local levels for community survival






42. Location economies created through formal interactions between firms






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






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






45. Beneficial spillover on another party






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






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






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