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


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






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






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






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






8. Production and consumption at local levels for community survival






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






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






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






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






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






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






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






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






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






18. Consumption - investment and government expenditures. net exports






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






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






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


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. Beneficial spillover on another party






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






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






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






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. A cost or damage that spills over on another party






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






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






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






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






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






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






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






38. Beneficial spillover on another party






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






40. Location economies created through formal interactions between firms






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






42. Consumption - investment and government expenditures. net exports






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






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






45. Production and consumption at local levels for community survival






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






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






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






//