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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. Beneficial spillover on another party






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






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






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






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






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






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






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






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






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






11. 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






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






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






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

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






17. Production and consumption at local levels for community survival






18. Location economies created through formal interactions between firms






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






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

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21. 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






22. Consumption - investment and government expenditures. net exports






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






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






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






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






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






28. Location economies created through formal interactions between firms






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






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






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






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






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






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






35. Production and consumption at local levels for community survival






36. Beneficial spillover on another party






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






38. Consumption - investment and government expenditures. net exports






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






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






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






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






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






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






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






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






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






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







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Can you answer 50 questions in 15 minutes?


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