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






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






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






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






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






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






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






8. Location economies created through formal interactions between firms






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






10. Consumption - investment and government expenditures. net exports






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






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






13. Consumption - investment and government expenditures. net exports






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






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






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






17. Production and consumption at local levels for community survival






18. 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






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






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






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






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






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






24. Beneficial spillover on another party






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






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






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






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






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






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






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






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. Location economies created through formal interactions between firms






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






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






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






37. Beneficial spillover on another party






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






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


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






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






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


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






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






45. Production and consumption at local levels for community survival






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






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






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