Quiz: International Business Vocabulary Test (Standard 1)
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?
- 1.A good or service purchased and brought in from another country.
- A.
Import
- B.
Export
- C.
Trade
- D.
Negotiate
- 2.A belief that products should be free to move from country to country without barriers or obstacles.
- A.
Quota
- B.
Entrepreneur
- C.
Free trade
- D.
Translate
- 3.A person who starts his or her own business in hope of earning a profit.
- A.
Consumer
- B.
Currency
- C.
Manufacture
- D.
Entrepreneur
- 4.A nation’s money—can be in coins or banknotes.
- A.
Currency
- B.
Embargo
- C.
Franchise
- D.
Trade barrier
- 5.An exchange of goods or services with people and businesses in your own country.
- A.
Bilateral agreement
- B.
Resource
- C.
Domestic trade
- D.
International trade
- 6.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.
Culture
- B.
Appreciate
- C.
Depreciate
- D.
Trade
- 7.A person who buys products or services.
- A.
Consumer
- B.
Currency
- C.
Culture
- D.
Negotiate
- 8.An agreement between two nations.
- A.
Trade barrier
- B.
Franchise
- C.
Bilateral agreement
- D.
Multilateral agreement
- 9.A ban on trade with another country for one or all of its goods.
- A.
Embargo
- B.
Free trade
- C.
Market
- D.
Tariff
- 10.A good or service sold to another country.
- A.
Import
- B.
Export
- C.
Ethics
- D.
Translate
- 11.A special right given to a business person to sell a company’s products. (e.g. Subway, Jimmy Johns, Sonic)
- A.
Subsidy
- B.
Franchise
- C.
Quota
- D.
Ethics
- 12.A code of conduct that helps determine what is good, right and proper.
- A.
Ethics
- B.
Depreciate
- C.
Consumer
- D.
Curency
- 13.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.
Ethics
- B.
Translate
- C.
Depreciate
- D.
Appreciate
- 14.A place where trade occurs.
- A.
Import
- B.
Export
- C.
Resource
- D.
Market
- 15.An organization acting as a court to hear and settle trade disputes among its members; also abbreviated WTO.
- A.
International
- B.
World Trade Organization
- C.
International trade
- D.
Domestic trade
- 16.A tax on a good imported into a country.
- A.
Tarriff
- B.
Translate
- C.
Negotiate
- D.
Embargo
- 17.Something of value that can be useful (natural, human, capital.)
- A.
Culture
- B.
Resource
- C.
Quota
- D.
Export
- 18.To discuss a deal or problem in the hope of reaching an agreement.
- A.
Consumer
- B.
Trade barrier
- C.
Negotiate
- D.
Market
- 19.An exchange of a good or service.
- A.
Trade
- B.
Trade barrier
- C.
Ethics
- D.
Import
- 20.A rule or law that slows or prevents trading with other nations.
- A.
Trade barrier
- B.
Import
- C.
Export
- D.
International
- 21.A control on the amount of a product that can be imported into a country.
- A.
Quota
- B.
International
- C.
Negotiate
- D.
Free trade
- 22.An agreement between more than two nations.
- A.
Ethics
- B.
Multilateral agreement
- C.
Trade
- D.
Depreciate
- 23.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)
- A.
Domestic trade
- B.
Free trade
- C.
Market
- D.
Subsidy
- 24.To make products by hand or machinery.
- A.
Resource
- B.
Manufacture
- C.
Translate
- D.
Embargo
- 25.The exchange of capital, goods, and services across international borders or territories.
- A.
Consumer
- B.
International trade
- C.
Domestic trade
- D.
Subsidy
Questions: 83 | Attempts: 2036 | Last updated: Jan 29, 2021
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