Yes very much like its usage in English

看透 kàntòu lit “see” and “pass through” = see through

国际 gúojì lit “kingdom/country” and “border/inter-” = international

博弈 bóyì lit “gamble” and “chess” = ‘playing chess’/‘play (strategic) games’

核心 héxīn lit “core” and “heart” = core/heart/crux

Words (词) in Mandarin are often made up of two or more characters (字) including noun + noun as in the above word for core.