International Business Vocabulary Test (Standard 1)

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| By Magano
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Magano
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Quizzes Created: 5 | Total Attempts: 6,044
Questions: 30 | Attempts: 4,731

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International Business Vocabulary Test (Standard 1) - 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?


Questions and Answers
  • 1. 

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

    • A.

      Import

    • B.

      Export

    • C.

      Trade

    • D.

      Negotiate

    Correct Answer
    A. Import
    Explanation
    Choose the word that best fits the definition provided.

    Rate this question:

  • 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

    Correct Answer
    C. Free trade
    Explanation
    Choose the word that best fits the definition provided.

    Rate this question:

  • 3. 

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

    • A.

      Consumer

    • B.

      Currency

    • C.

      Manufacture

    • D.

      Entrepreneur

    Correct Answer
    D. Entrepreneur
    Explanation
    Choose the word that best fits the definition provided.

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  • 4. 

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

    • A.

      Currency

    • B.

      Embargo

    • C.

      Franchise

    • D.

      Trade barrier

    Correct Answer
    A. Currency
    Explanation
    Choose the word that best fits the definition provided.

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  • 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

    Correct Answer
    C. Domestic trade
    Explanation
    Choose the word that best fits the definition provided.

    Rate this question:

  • 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

    Correct Answer
    B. Appreciate
    Explanation
    Choose the word that best fits the definition provided.

    Rate this question:

  • 7. 

    A person who buys products or services.

    • A.

      Consumer

    • B.

      Currency

    • C.

      Culture

    • D.

      Negotiate

    Correct Answer
    A. Consumer
    Explanation
    Choose the word that best fits the definition provided.

    Rate this question:

  • 8. 

    An agreement between two nations.

    • A.

      Trade barrier

    • B.

      Franchise

    • C.

      Bilateral agreement

    • D.

      Multilateral agreement

    Correct Answer
    C. Bilateral agreement
    Explanation
    Choose the word that best fits the definition provided.

    Rate this question:

  • 9. 

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

    • A.

      Embargo

    • B.

      Free trade

    • C.

      Market

    • D.

      Tariff

    Correct Answer
    A. Embargo
    Explanation
    Choose the word that best fits the definition provided.

    Rate this question:

  • 10. 

    A good or service sold to another country.

    • A.

      Import

    • B.

      Export

    • C.

      Ethics

    • D.

      Translate

    Correct Answer
    B. Export
    Explanation
    Choose the word that best fits the definition provided.

    Rate this question:

  • 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

    Correct Answer
    B. Franchise
    Explanation
    Choose the word that best fits the definition provided.

    Rate this question:

  • 12. 

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

    • A.

      Ethics

    • B.

      Depreciate

    • C.

      Consumer

    • D.

      Curency

    Correct Answer
    A. Ethics
    Explanation
    Choose the word that best fits the definition provided.

    Rate this question:

  • 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

    Correct Answer
    C. Depreciate
    Explanation
    Choose the word that best fits the definition provided.

    Rate this question:

  • 14. 

    A place where trade occurs.

    • A.

      Import

    • B.

      Export

    • C.

      Resource

    • D.

      Market

    Correct Answer
    D. Market
    Explanation
    Choose the word that best fits the definition provided.

    Rate this question:

  • 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

    Correct Answer
    B. World Trade Organization
    Explanation
    Choose the word that best fits the definition provided.

    Rate this question:

  • 16. 

    A tax on a good imported into a country.

    • A.

      Tarriff

    • B.

      Translate

    • C.

      Negotiate

    • D.

      Embargo

    Correct Answer
    A. Tarriff
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

  • 17. 

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

    • A.

      Culture

    • B.

      Resource

    • C.

      Quota

    • D.

      Export

    Correct Answer
    B. Resource
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

  • 18. 

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

    • A.

      Consumer

    • B.

      Trade barrier

    • C.

      Negotiate

    • D.

      Market

    Correct Answer
    C. Negotiate
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

  • 19. 

    An exchange of a good or service.

    • A.

      Trade

    • B.

      Trade barrier

    • C.

      Ethics

    • D.

      Import

    Correct Answer
    A. Trade
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

  • 20. 

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

    • A.

      Trade barrier

    • B.

      Import

    • C.

      Export

    • D.

      International

    Correct Answer
    A. Trade barrier
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

  • 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

    Correct Answer
    A. Quota
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

  • 22. 

    An agreement between more than two nations.

    • A.

      Ethics

    • B.

      Multilateral agreement

    • C.

      Trade

    • D.

      Depreciate

    Correct Answer
    B. Multilateral agreement
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

  • 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

    Correct Answer
    D. Subsidy
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

  • 24. 

    To make products by hand or machinery.

    • A.

      Resource

    • B.

      Manufacture

    • C.

      Translate

    • D.

      Embargo

    Correct Answer
    B. Manufacture
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

  • 25. 

    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.

      International

    • B.

      Fair trade

    • C.

      Domestic trade

    • D.

      World Trade Organization

    Correct Answer
    B. Fair trade
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

  • 26. 

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

    • A.

      Consumer

    • B.

      International trade

    • C.

      Domestic trade

    • D.

      Subsidy

    Correct Answer
    B. International trade
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

  • 27. 

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

    • A.

      Quota

    • B.

      Resource

    • C.

      Currency

    • D.

      Business

    Correct Answer
    D. Business
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

  • 28. 

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

    • A.

      Culture

    • B.

      Translate

    • C.

      International

    • D.

      Business

    Correct Answer
    C. International
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

  • 29. 

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

    • A.

      Trade

    • B.

      Tariff

    • C.

      Culture

    • D.

      Export

    Correct Answer
    C. Culture
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

  • 30. 

    1.   Restate words from one language into another language

    • A.

      Export

    • B.

      Translate

    • C.

      Resource

    • D.

      Negotiate

    Correct Answer
    B. Translate
    Explanation
    Choose the word that best fits the definition provided

    Rate this question:

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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Nov 16, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jan 17, 2011
    Quiz Created by
    Magano
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