International Business Vocabulary Test (Standard 1)

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A person who buys products or services.
- Consumer
- Currency
- Culture
- 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 person who buys products or services.

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

To make products by hand or machinery.

An agreement between more than two nations.

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.

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

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

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

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.

A good or service sold to another country.

A tax on a good imported into a country.

An exchange of a good or service.

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

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

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

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

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

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

A good or service purchased and brought in from another 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 special right given to a business person to sell a company’s products. (e.g. Subway, Jimmy Johns, Sonic)

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

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

An agreement between two nations.

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.

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