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






2. Beneficial spillover on another party






3. Production and consumption at local levels for community survival






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






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






6. Production and consumption at local levels for community survival






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






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






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






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






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






12. Consumption - investment and government expenditures. net exports






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






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






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






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






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






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






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






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






21. Consumption - investment and government expenditures. net exports






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






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






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






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






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






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






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






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






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






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






32. Beneficial spillover on another party






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






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






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






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






37. Location economies created through formal interactions between firms






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






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






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






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






42. Location economies created through formal interactions between firms






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






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






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






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