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






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






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






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






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






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






8. Location economies created through formal interactions between firms






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






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






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






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






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






14. Consumption - investment and government expenditures. net exports






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






16. Production and consumption at local levels for community survival






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






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






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






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






21. Location economies created through formal interactions between firms






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






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






24. Production and consumption at local levels for community survival






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






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






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






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


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






30. 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






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






34. Beneficial spillover on another party






35. Beneficial spillover on another party






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






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






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






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






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






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






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






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


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






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






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






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