Quiz: International Business Vocabulary Test (Standard 1)

30 Questions | Total Attempts: 3272

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International Business Quizzes & Trivia

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

  • 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

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