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






2. Consumption - investment and government expenditures. net exports






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






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






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






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






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


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






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


10. 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






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






12. Beneficial spillover on another party






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






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






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






16. Production and consumption at local levels for community survival






17. Consumption - investment and government expenditures. net exports






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






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






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






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






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






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






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






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






26. Production and consumption at local levels for community survival






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






28. Beneficial spillover on another party






29. Location economies created through formal interactions between firms






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






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






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






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






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






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






36. 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






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






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






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






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






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






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






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






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






45. Location economies created through formal interactions between firms






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






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






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