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. Production and consumption at local levels for community survival






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






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






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






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






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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






8. Production and consumption at local levels for community survival






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






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






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






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






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






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






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






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






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






18. Beneficial spillover on another party






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






20. Consumption - investment and government expenditures. net exports






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






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






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






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






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






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






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






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. Location economies created through formal interactions between firms






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






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






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






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






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






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






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






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






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






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






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

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


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






42. Consumption - investment and government expenditures. net exports






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






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






45. 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






46. Location economies created through formal interactions between firms






47. Beneficial spillover on another party






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