Exam Questions & Detailed
Quiz_________________?
(central place theory) - the maximum/minimum market possible/needed to support the
supply of a product or service -
Answer✅
threshold / range
Quiz_________________?
(EPZ) - designated areas of countries where governments create conditions conducive to
export-orientated production -
Answer✅
export processing zone
Quiz_________________?
(GDP) - a measure of the total value of goods and services produced within a country
during a year -
Answer✅
gross domestic product
1
, Quiz_________________?
(GNP) - a measure of the total value of goods and services produced by the people and
corporations in a year including goods and services produced within and outside the
country -
Answer✅
gross national product
Quiz_________________?
(HDI) - an aggregate index of development, which takes into account economic, social, and
demographic factors, using GDP, literacy and education, and life expectancy -
Answer✅
human development index
Quiz_________________?
(MNC) - an organization that manufactures and markets products in many different
countries and has multinational stock ownership and multinational management -
Answer✅
multinational corporation
Quiz_________________?
(model) - model that assumes that all countries follow a similar path to development
advancing through five stages: traditional, preconditions of takeoff, takeoff, drive to maturity,
high mass consumption -
Answer✅
stages of growth
2
, Quiz_________________?
(PPP) - a theory of long-term equilibrium exchange rates based on relative price levels of
two countries founded on the law of one price, the idea that in absence of transaction costs
and official barriers to trade, identical goods will have the same price in different markets
when the prices are expressed in terms of one currency -
Answer✅
purchasing power parity
Quiz_________________?
(SEZ) - specific area within a country in which tax incentives and less stringent
environmental regulations are implemented to attract foreign business and investment -
Answer✅
specialized economic zones
Quiz_________________?
(theory) the location of manufacturing establishments is determined by the minimization of
three critical expenses: labor, transportation, and agglomeration -
Answer✅
least cost location
Quiz_________________?
(TNC) - a company that conducts research, oparates factories, and sells products in many
countries, not just where its headquarters or shareholders are located -
Answer✅
transnational corporation
3
Quiz_________________?
(central place theory) - the maximum/minimum market possible/needed to support the
supply of a product or service -
Answer✅
threshold / range
Quiz_________________?
(EPZ) - designated areas of countries where governments create conditions conducive to
export-orientated production -
Answer✅
export processing zone
Quiz_________________?
(GDP) - a measure of the total value of goods and services produced within a country
during a year -
Answer✅
gross domestic product
1
, Quiz_________________?
(GNP) - a measure of the total value of goods and services produced by the people and
corporations in a year including goods and services produced within and outside the
country -
Answer✅
gross national product
Quiz_________________?
(HDI) - an aggregate index of development, which takes into account economic, social, and
demographic factors, using GDP, literacy and education, and life expectancy -
Answer✅
human development index
Quiz_________________?
(MNC) - an organization that manufactures and markets products in many different
countries and has multinational stock ownership and multinational management -
Answer✅
multinational corporation
Quiz_________________?
(model) - model that assumes that all countries follow a similar path to development
advancing through five stages: traditional, preconditions of takeoff, takeoff, drive to maturity,
high mass consumption -
Answer✅
stages of growth
2
, Quiz_________________?
(PPP) - a theory of long-term equilibrium exchange rates based on relative price levels of
two countries founded on the law of one price, the idea that in absence of transaction costs
and official barriers to trade, identical goods will have the same price in different markets
when the prices are expressed in terms of one currency -
Answer✅
purchasing power parity
Quiz_________________?
(SEZ) - specific area within a country in which tax incentives and less stringent
environmental regulations are implemented to attract foreign business and investment -
Answer✅
specialized economic zones
Quiz_________________?
(theory) the location of manufacturing establishments is determined by the minimization of
three critical expenses: labor, transportation, and agglomeration -
Answer✅
least cost location
Quiz_________________?
(TNC) - a company that conducts research, oparates factories, and sells products in many
countries, not just where its headquarters or shareholders are located -
Answer✅
transnational corporation
3
