International Business Vocabulary Test (Standard 1)

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A good or service purchased and brought in from another country.
- Import
- Export
- Trade
- Negotiate

About This Quiz

Welcome to the International Business Vocabulary Test quiz. It features questions from Standard 1- International Business Definitions and Vocabulary. If you are a fresher started studying in this field, then we assume, you might know a little about it. So, how about testing your knowledge?

International Business Vocabulary Test (Standard 1) - Quiz

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Nov 16, 2023

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Jan 17, 2011

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International Business Vocabulary Test (Standard 1)

A good or service purchased and brought in from another country.

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A belief that products should be free to move from country to country without barriers or obstacles.

A person who starts his or her own business in hope of earning a profit.

A nation’s money—can be in coins or banknotes.

An exchange of goods or services with people and businesses in your own country.

To gain in value. (For example, if you bought a house in 1998 for $100,000 and sold it in 2011 for $120,000)

A person who buys products or services.

An agreement between two nations.

A ban on trade with another country for one or all of its goods.

A good or service sold to another country.

A special right given to a business person to sell a company’s products. (e.g. Subway, Jimmy Johns, Sonic)

A code of conduct that helps determine what is good, right and proper.

To lose value. For example, if you bought a new Toyota Corolla in 2001 for $30,000, the value of the car decreased and you can now only sell it for $11,000.

A place where trade occurs.

An organization acting as a court to hear and settle trade disputes among its members; also abbreviated WTO.

A tax on a good imported into a country.

Something of value that can be useful (natural, human, capital.)

To discuss a deal or problem in the hope of reaching an agreement.

An exchange of a good or service.

A rule or law that slows or prevents trading with other nations.

A control on the amount of a product that can be imported into a country.

An agreement between more than two nations.

A government action that decreases an industry’s productions costs, which also decreases the price of the industry’s goods (e.g. Farm subsidies in NE)

To make products by hand or machinery.

A fair price for goods, specifically for developing country producers for better trading conditions. Some goods it usually includes are crafts, coffee, cocoa, sugar, tea, bananas, honey, cotton, fresh fruit, chocolate, and flowers.

The exchange of capital, goods, and services across international borders or territories.

This word comes from the base “busy” + ness, or the act of being busy with money, financial, transactions, sales, and purchasing.

Some words that are similar (synonyms) include global, world, worldwide, and foreign.

The attitudes and behavior that are characteristic of a particular social group or organization (this can include religion, language, customs, traditions, food, etc.)

1. Restate words from one language into another language