SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
Search
Test your basic knowledge |
Global Economy Basics
Start Test
Study First
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 - price - exchange - and distribution regulated by custom
geographical scale
Human Capital
Command Economy
Traditional Economy
2. Markets have been extended in geographical scope through international agreements to open national territories to trade and investment
Globalization
Command Economy
Open economies
Intellectual Property
3. A graduated series of geographical terms used to classify or organize spaces - places - or processes
Traditional Economy
negative externality
Globalization
geographical scale
4. Production - price - exchange - and distribution regulated by custom
Traditional Economy
negative externality
Human Capital
traditional economies
5. A from of international economic integration in which member countries have free trade and the same trade policies toward all non-member countries
Engel's Law
negative externality
traditional economies
Customs Union
6. Most people work for wages - then purchase goods and services to consume
Globalization
nearshoring
modern economies
lagging economies
7. A cost or damage that spills over on another party
traditional economies
Negative Externality
GDP
GDP
8. Creations of the min including inventions - creative artistic works - as well as symbols - names - and designs
modern economies
Negative Externality
modern economies
Intellectual Property
9. Education - knowledge - skills - and abilities of a labor force
Positive Externality
socially constructed
Command Economy
Human Capital
10. Directed enterprise - state ownership of production - quota/planned distribution
nearshoring
Engel's Law
Positive Externality
Command Economy
11. Process of growth - change - and differentiation of an economy
Development
Factors of Production
negative externality
GDP
12. Emphasizes social relationships and process that create or modify their characteristics
socially constructed
Command Economy
Customs Union
Division of Labor
13. Location economies created through formal interactions between firms
Positive Externality
Globalization
Division of Labor
Traded Interdependencies
14. Production and consumption at local levels for community survival
Globalization
Positive Externality
traditional economies
Capitalist Economy
15. 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
nearshoring
Negative Externality
lagging economies
Open economies
16. Creations of the min including inventions - creative artistic works - as well as symbols - names - and designs
Development
Intellectual Property
GDP
traditional economies
17. Consumption - investment and government expenditures. net exports
Capitalist Economy
lagging economies
geographical scale
GDP
18. Generic categories of elements that are required for production of a good or service to occur
GDP
socially constructed
Traditional Economy
Factors of Production
19. Generic categories of elements that are required for production of a good or service to occur
Division of Labor
Factors of Production
Engel's Law
Development
20. Beneficial spillover on another party
Command Economy
Command Economy
GDP
Positive Externality
21. As incomes rise - a lower proportion of income is spent on food
22. Free enterprise - private ownership of production - market-based exchange
Factors of Production
Open economies
Positive Externality
Capitalist Economy
23. Beneficial spillover on another party
Positive Externality
Negative Externality
Development
Command Economy
24. An unintended consequence or cost that adversely affects an entity that was not involved
lagging economies
Human Capital
Traded Interdependencies
negative externality
25. Worldwide processes through which the world - its economic systems - and societies tend to become more uniform - more integrated - and more interdependent
geographical scale
Globalization
negative externality
Capitalist Economy
26. A graduated series of geographical terms used to classify or organize spaces - places - or processes
geographical scale
negative externality
Open economies
Factors of Production
27. Worldwide processes through which the world - its economic systems - and societies tend to become more uniform - more integrated - and more interdependent
Factors of Production
Engel's Law
Globalization
Intellectual Property
28. Process of growth - change - and differentiation of an economy
Development
Human Capital
geographical scale
negative externality
29. Those that tend to use older production technologies and lack newest products
traditional economies
GDP
lagging economies
Negative Externality
30. How the various steps in a production process tasks are assigned to different workers
Division of Labor
Globalization
Command Economy
leading economies
31. Those with highest degree of use of new technologies for production and highest degree or range of new products
Globalization
lagging economies
leading economies
socially constructed
32. Consumption - investment and government expenditures. net exports
negative externality
GDP
leading economies
nearshoring
33. Those with highest degree of use of new technologies for production and highest degree or range of new products
geographical scale
Engel's Law
Traded Interdependencies
leading economies
34. Those that tend to use older production technologies and lack newest products
Intellectual Property
Traded Interdependencies
lagging economies
Division of Labor
35. Free enterprise - private ownership of production - market-based exchange
Command Economy
Capitalist Economy
Negative Externality
Traditional Economy
36. Production and consumption at local levels for community survival
traditional economies
Development
GDP
lagging economies
37. A from of international economic integration in which member countries have free trade and the same trade policies toward all non-member countries
modern economies
Customs Union
Negative Externality
Human Capital
38. How the various steps in a production process tasks are assigned to different workers
Open economies
Command Economy
Division of Labor
Capitalist Economy
39. Most people work for wages - then purchase goods and services to consume
lagging economies
geographical scale
GDP
modern economies
40. A cost or damage that spills over on another party
Negative Externality
Capitalist Economy
Customs Union
Intellectual Property
41. Location economies created through formal interactions between firms
Traded Interdependencies
Positive Externality
Capitalist Economy
socially constructed
42. Markets have been extended in geographical scope through international agreements to open national territories to trade and investment
Open economies
GDP
socially constructed
geographical scale
43. Education - knowledge - skills - and abilities of a labor force
negative externality
Globalization
Intellectual Property
Human Capital
44. As incomes rise - a lower proportion of income is spent on food
45. Emphasizes social relationships and process that create or modify their characteristics
Division of Labor
Division of Labor
socially constructed
Traded Interdependencies
46. An unintended consequence or cost that adversely affects an entity that was not involved
leading economies
Engel's Law
negative externality
Intellectual Property
47. Directed enterprise - state ownership of production - quota/planned distribution
Factors of Production
Command Economy
Division of Labor
Traditional Economy
48. 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
Division of Labor
Development
nearshoring
Engel's Law