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






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






3. Consumption - investment and government expenditures. net exports






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






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






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






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






8. Production and consumption at local levels for community survival






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






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






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






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






13. Location economies created through formal interactions between firms






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






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






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






17. Beneficial spillover on another party






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






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






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






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






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






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






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






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






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






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


28. 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






29. 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






30. Beneficial spillover on another party






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






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






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






34. Production and consumption at local levels for community survival






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






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






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






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






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


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






41. Consumption - investment and government expenditures. net exports






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






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






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






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






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






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






48. Location economies created through formal interactions between firms