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






2. 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






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






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






5. Consumption - investment and government expenditures. net exports






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

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






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






9. Production and consumption at local levels for community survival






10. Beneficial spillover on another party






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






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






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

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






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






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






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






18. Location economies created through formal interactions between firms






19. Consumption - investment and government expenditures. net exports






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






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






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






23. 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






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






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






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






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






28. Location economies created through formal interactions between firms






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






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






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






32. Production and consumption at local levels for community survival






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






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






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






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






37. Beneficial spillover on another party






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






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






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






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






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






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






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






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






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






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






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