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. Location economies created through formal interactions between firms






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






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






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






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






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






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






8. Beneficial spillover on another party






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






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






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






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






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






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






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






16. 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






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






18. Production and consumption at local levels for community survival






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






20. Beneficial spillover on another party






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






22. Production and consumption at local levels for community survival






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






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






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






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






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






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






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






30. Consumption - investment and government expenditures. net exports






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






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


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


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






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






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






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






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






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






41. Location economies created through formal interactions between firms






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






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






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






45. Consumption - investment and government expenditures. net exports






46. 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






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






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