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






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






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






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






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






7. Location economies created through formal interactions between firms






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






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






10. Production and consumption at local levels for community survival






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


12. Location economies created through formal interactions between firms






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






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






15. 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






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






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






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






19. Production and consumption at local levels for community survival






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






35. Beneficial spillover on another party






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






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






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


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






40. Beneficial spillover on another party






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






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






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






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






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






46. Consumption - investment and government expenditures. net exports






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






48. 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