Money/ business and consumerism (Easy) Quiz Home › IELTS › IELTS English Vocabulary › Money/ business and consumerism (Easy) 📝 IELTS – English Vocabulary – Money/ business and consumerism – Easy 20 questions · 15 min timer · Explanations included · Free 1. Which term describes a market condition where there are many buyers but only one seller? Perfect competition Oligopoly Monopoly Monopsony None Show Hint A 'monopoly' is a market condition where there is only one seller for many buyers. An 'oligopoly' involves a few sellers, and 'monopsony' involves many sellers but one buyer. 2. What does the term 'revenue' refer to in a business context? The profit a company makes after all expenses are deducted. The amount of money a company spends on advertising. The number of employees working in a company. The total income generated by a company from its business activities. None Show Hint 'Revenue' refers to the total income generated by a company from its business activities. It is not the profit, which is calculated after deducting expenses. Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Loading questions... Click Submit to see your final score! Previous Start Quiz Next Time's up
