A drag bit is a specialized drill bit that is used for drilling through soft to medium rock formations. However, there are several other synonyms for drag bit, such as step-bit, Chevron bit, impregnated diamond bit, Tungsten carbide insert bit, and polycrystalline diamond compact bit. These types of bits are used in drilling operations for geological surveys, mining, boreholes, geothermal drilling, and more. The different types of bits have varying drilling abilities, and it's important to choose the appropriate bit for the job in order to maximize efficiency. Each of these bits has unique characteristics and features that make them suitable for different applications.