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






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






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






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






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






6. Beneficial spillover on another party






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






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






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






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






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






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






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

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






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






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






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






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






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






20. Production and consumption at local levels for community survival






21. Location economies created through formal interactions between firms






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






23. Consumption - investment and government expenditures. net exports






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






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






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

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






28. Production and consumption at local levels for community survival






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






30. Location economies created through formal interactions between firms






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






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






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






34. 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






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






36. Consumption - investment and government expenditures. net exports






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






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






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






40. 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






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






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






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






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






45. Beneficial spillover on another party






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






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






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