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. Consumption - investment and government expenditures. net exports






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






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






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






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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


6. 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






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






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






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






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






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






12. Production and consumption at local levels for community survival






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






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






15. Location economies created through formal interactions between firms






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






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






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






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






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






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






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






23. Beneficial spillover on another party






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






25. Production and consumption at local levels for community survival






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






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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


28. Location economies created through formal interactions between firms






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






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






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






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






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






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






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






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






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






38. Consumption - investment and government expenditures. net exports






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






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






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






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






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






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






45. 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






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






47. Beneficial spillover on another party






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