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






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






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






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. 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






6. 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






7. Consumption - investment and government expenditures. net exports






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






9. Location economies created through formal interactions between firms






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

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11. Production and consumption at local levels for community survival






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






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






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






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






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






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






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






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






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






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






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






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






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






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






26. Beneficial spillover on another party






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






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






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






30. Consumption - investment and government expenditures. net exports






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






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






33. Production and consumption at local levels for community survival






34. Beneficial spillover on another party






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






36. Location economies created through formal interactions between firms






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






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






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

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






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






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






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






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






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






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






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






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