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Test your basic knowledge |
Business English Vocab Test
Start Test
Study First
Subjects
:
business-skills
,
english
,
vocabulary
Instructions:
Answer 50 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).
self-service
sustainability
trade deficit
quota
2. The checking - ordering & processing of stock levels.
inventory management
prime rate
markdown
mission statement
3. A person or organization which receives money from a charity.
beneficiary
NGOs
processing
inventory shrinkage
4. An area of land which has never been built on.
idle capacity
myopic perspective
greenfield site
CBI
5. Someone who does something without being paid for it - e.g. working for a charity.
CBD
volunteer
AFL/CIO
budget deficit
6. An extremely adverse environmental condition.
blight
recession
compliance
supply chain
7. A test or way of measuring something.
stakeholder
direct selling
assessment
dead stock
8. When a customer regularly uses a store they know - like and trust.
non-tariff barriers
store loyalty
dealer brands
mortgage
9. Obstacles to international trade other than tariffs.
non-tariff barriers
negotiation
Green paper
grease payments
10. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.
sustainability
mission statement
statutory
fake
11. The rare situation when budget spending is smaller than revenue.
employee
statutory
budget surplus
markup
12. The amount of wealth - money - comfort etc that a particular person - group or society has.
balance of payments
trademark
outsourcing
standard of living
13. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
shelf warmer
benchmarking
restrictive economic policies
oligopoly
14. Regulations that mean permission from the government is required before certain items can be exported.
RPI
export controls
supermarket
megamall
15. Multiple retail units under common ownership.
allocation
Nominal GDP
myopic perspective
chain
16. Giving people the freedom to decide things and take responsibility for themselves.
advertising
CBI
empowerment
benchmarking
17. The way in which a company is controlled.
governance
copycat
target market
protectionism
18. A reduction in the selling price of an item in order to increase sales.
inventory shrinkage
urban
FMCG
markdown
19. A period of very high economic activity.
over the counter drug
non-tariff barriers
franchising
boom
20. Buying currency options that fix exchange rates for a period of time.
upswing
sustainability
currency hedging
trademark
21. A system where a company allows someone to run a specific business using the company's products or brand in exchange for a fee or share of the profits - McDonalds is a famous franchise.
budget surplus
franchising
new capital investment
negotiation
22. Imitating another company's ideas rather than developing your own.
budget deficit
copycat
convenience store
monetary policies
23. Volunteer organization for young - disadvantaged Americans.
outsourcing
Americorps
in-stock
assessment
24. An economic sanction that forbids the import of a specific product or all products from a specific country.
duty
manufacturing
embargo
till
25. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
poverty line
product differentiation
impulse purchase
tax haven
26. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.
urban
governance
foreign exchange
self-service
27. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
otc drug
compliance
automatic reordering system
downswing
28. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.
not-for-profit
mom-and-pop store
automatic reordering system
stakeholder
29. A person or company from whom goods or services are bought.
supplier
in-stock
otc drug
copyright
30. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
sustainable development
store loyalty
WTO
NGOs
31. The system of organizations involved in moving a product from manufacturer to customer.
recession
chain
negotiation
supply chain
32. Economic policies designed to support business and help it expand.
statutory
competitive
constructive economic policies
shareholder value
33. Meeting accepted guidelines or laws.
debit-card system
duty
fiscal policies
compliance
34. The Federal Reserve - the US central banking system.
deficit spending
shareholder value
shelf warmer
Fed
35. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
dealer brands
depth of assortment
standard of living
direct selling
36. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.
open source
recession
depth of assortment
economic growth
37. 1. The sum of the balance of trade plus net factor income (interest dividends) plus net transfer payments (foreign aid).2. Low or no-interest bank account used for daily transactions e.g. using an ATM - with a cheque book or debit card.
megamall
market equilibrium
supplier
current account
38. The variety of goods that a retailer sells.
myopic perspective
advocacy
Americorps
depth of assortment
39. The purchase of a financial product or other item of value with the hope that it will become more valuable.
empowerment
budget deficit
business sector
investment
40. Central Business District - the largest retail and office area of a city - also known as downtown
CBD
central business district
constructive economic policies
CPI
41. Consumer goods that have a short life span - e.g. food or paper tissues.
EPOS
factors of production
consumer non-durables
discretionary income
42. Items sold in a store during a certain period measuring in number of units or value.
social structure
stock turnover
new capital investment
manufacturing
43. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
boom
EDI
discontinued
FMCG
44. Goods bought for private use.
inventory turnover
store
consumer goods
impulse purchase
45. Business wholly owned by its employees with the emphasis on group decision making.
upswing
protectionism
market penetration
cooperative
46. Announcing that a product is for sale - trying to persuade customers to buy a product or service.
Nominal GDP
new capital investment
debit-card system
advertising
47. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
volunteer
copyright
otc drug
Nominal GDP
48. Sets of specific restraints imposed by governments on international trade.
supply chain
investment
sanctions
fiscal policies
49. Items in a store which have not sold for a longer period of time.
PPP
consumer non-durables
dead stock
central business district
50. Statement of policy issued by a government which may form the basis of a future law.
White paper
myopic perspective
tax haven
oligopoly