Quiz on Knowledge Economy and Globalization

What is the new economic era mentioned in the text?

• Agricultural Economy

• Knowledge Economy

• Service Economy

• Industrial Economy

What does the Knowledge Economy rely on?

• Land

• Intellectual Resources

• Labor

• Natural Resources

What is a key feature of globalization according to the text?

• It is a fast and deep process

• It is easy to reverse

• It is a slow process

• It is only local

Which country is mentioned as a developing nation in the text?

• India

• China

• Vietnam

• USA

What must Vietnam do to integrate into the global economy?

• Reduce education

• Increase institutional reform

• Limit technology

• Ignore changes

What is the main resource in the Knowledge Economy?

• Knowledge

• Capital

• Land

• Labor

What does the production function Q = f(L, K, NR, T) represent?

• Total output

• Total input

• Total profit

• Total cost

What is the role of knowledge in production?

• It is always limited

• It is a special resource

• It is a fixed amount

• It is unimportant

What does the text say about natural resources?

• They are the most important

• They are often limited

• They can be easily replaced

• They are unlimited

What is a characteristic of the agricultural economy?

• High technology

• Low productivity

• High education

• Fast production