Money/ business and consumerism (Medium) Quiz Home › IELTS › IELTS English Vocabulary › Money/ business and consumerism (Medium) 📝 IELTS – English Vocabulary – Money/ business and consumerism – Medium 20 questions · 15 min timer · Explanations included · Free 1. What does 'consumerism' refer to? The practice of saving money. The increase in the production of goods. The reduction of consumer spending. The promotion of consumer rights and interests. None Show Hint Consumerism is the protection or promotion of the interests of consumers. Option B is incorrect as it refers to frugality. 2. What does the term 'inflation' refer to in economics? A measure of a country's economic output. An increase in the general price level of goods and services. A decrease in the general price level of goods and services. The total value of goods produced in a country. None Show Hint Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling. Option A describes deflation. 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... Loading questions... Click Submit to see your final score! Previous Start Quiz Next Time's up
