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


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






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. A cost or damage that spills over on another party






6. Production and consumption at local levels for community survival






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






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






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






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






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






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






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






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






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






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






17. Beneficial spillover on another party






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






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






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






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






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






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






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






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






26. Location economies created through formal interactions between firms






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






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






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






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






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






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






33. Consumption - investment and government expenditures. net exports






34. Beneficial spillover on another party






35. Location economies created through formal interactions between firms






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


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






38. Consumption - investment and government expenditures. net exports






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






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






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






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






43. 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






44. 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






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






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






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






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