Applied
English for International Politics (Seibert)
Chapter 14 and 15 Vocabulary Quiz; Friday, November 8, 2002
Last/family Name _____________________________ First name _____________ Mailbox ______
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____ 1. |
merchandise (n) |
a. the percent that prices of goods and services increase in a certain period |
| ____ 2. | services (n) | b. intangible; work done by people for pay (designing things, programming computers, teaching, designing buildings, serving food, etc.) |
| ____ 3. | booming (adj) | c. the amount produced or manufactured |
| ____ 4. | the industrial revolution (n) | d. reducing the number of workers in a company; to lay off workers |
| ____ 5. | standard of living (n) | e. goods or products bought and sold; tangibles |
| ____ 6. | resources (n) | f. the 7 economically-largest free market countries: Canada, France, Great Britain, Italy, Japan, the U.S. and Germany |
| ____ 7. | raw materials (n) | g. very successful; increasing rapidly (business) |
| ____ 8. | natural resources (n) | h. the major social and economic changes that resulted from the invention of machines and factories in the late 18th century |
| ____ 9. | materialism (n); materialistic (adj) | i. 77 less developed countries "southern" countries who at a 1963 conference asked for more fairness in North-South trade |
| ____ 10. | capital (n) | j. materials used to manufacture other products; e.g., wool, cotton, wood, etc.; sometimes the same as natural resources |
| ____ 11. | self-sufficiency (n) | k. financial resources; money to do business and operate |
| ____ 12. | rate of inflation (n) | l. the wealth, comfort and goods a person, group or country has (can be "high", "low", etc.) |
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____ 13. |
reserves (n) |
m. laws that require that a portion of a business must be owned by certain people (e.g., "50% of the owners must be citizens of the country") |
| ____ 14. | balance of payments (n) | n. reduced taxes as economic incentives |
| ____ 15. | surplus (n) | o. more of something than is needed (money, merchandise, food, etc.) |
| ____ 16. | output (n) | p. assets; things that help or support |
| ____ 17. | (product) dumping (n) | q. spying on companies |
| ____ 18. | majority ownership requirements (n) | r. the belief that getting possessions and money is the most important thing in life |
| ____ 19. | economic espionage (n) | s. Newly Industrializing Countries (e.g., Singapore or Taiwan) |
| ____ 20. | tax breaks (n) | t. money (or other things) saved back for future use or emergencies |
| ____ 21. | NICs (n) | u. being able to take care of oneself without help |
| ____ 22. | Group of 77 = G 77 (now 133) (n) | v. minerals and forests |
| ____ 23. | Group of 7 = G7 (n) | w. the comparison between the money that goes out of a country and the money that come in (as a result of trade, tourism, sales, etc.) |
| ____ 24. | downsizing (n); to downsize (v) | x. selling merchandise abroad for less than the price at home |