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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. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
constructive economic policies
real GDP
copycat
copyright
2. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.
inventory
WTO
savings rate
recession
3. The total amount of money in circulation in a country.
fake
protectionism
money supply
current account
4. Economic policies that use taxation to correct the course of the economy e.g. lowering sales tax to encourage spending or raising interest rates to encourage saving.
stockroom
fiscal policies
TUC
copycat
5. A consultation document that sets out the government's position on a certain issue.
empowerment
benchmarking
Green paper
direct selling
6. The purchase of a financial product or other item of value with the hope that it will become more valuable.
FDI
stockroom
social stratification
investment
7. Connected with society and the way it is organized.
societal
supplier
NGOs
niche strategy
8. Announcing that a product is for sale - trying to persuade customers to buy a product or service.
advertising
loyalty card
embargo
household sector
9. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
mortgage
till
speciality store
loyalty card
10. How companies try to show their products as being different from those of their rivals.
product differentiation
idle capacity
tax haven
Green paper
11. Central Business District - the largest retail and office area of a city - also known as downtown
market skimming
CBD
processing
public-private partnership
12. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
business cycle
household sector
CPI
balance of payments
13. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.
intellectual property
OECD
central business district
department store
14. Relating to cities or built up areas - not the countryside.
foreign exchange
reduced
urban
central business district
15. A minimum income level below which people are officially poor.
poverty line
employee
idle capacity
foreign exchange
16. An owner of shares or stocks in a company.
cooperative
shareholder
current account
benchmarking
17. Meeting accepted guidelines or laws.
inventory shrinkage
markdown
store
compliance
18. An area of land which has never been built on.
sustainability
greenfield site
diversity
manufacturing
19. Giving people the freedom to decide things and take responsibility for themselves.
empowerment
NGOs
dead stock
till
20. A self-service food store with grocery - meat and produce departments.
in-stock
department store
WTO
supermarket
21. An economic sanction that forbids the import of a specific product or all products from a specific country.
real GDP
balance of payments
embargo
non-tariff barriers
22. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
household sector
balance of payments
mom-and-pop store
CPI
23. A range of many things or people that are very different from each other.
statutory
balance of payments
diversity
bulk discount
24. Obstacles to international trade based on customs tariffs.
greenfield site
tariff barriers
tariff
negotiation
25. When a small number of companies control a certain market.
oligopoly
vending machine
deficit spending
household sector
26. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.
reduced
depression
leasehold
NAFTA
27. 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.
subsidy
mission statement
not-for-profit
market penetration
28. Exclusive ownership of a property for an indefinite period of time.
diversity
sustainable development
mom-and-pop store
freehold
29. The hub of retailing in a city - where the most office buildings and retail stores are.
central business district
advertising
embargo
standard of living
30. The Federal Reserve - the US central banking system.
Fed
dealer brands
shareholder value
inventory management
31. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
questionable payments
Americorps
real GDP
department store
32. Consumer goods that have a short life span - e.g. food or paper tissues.
consumer non-durables
savings rate
tax haven
recession
33. A period of very high economic activity.
downswing
foreign exchange
inventory turnover
boom
34. Money which is spent on construction - land - machinery etc which has an expected working life of more than one year - investments in the future of a business.
TUC
infringement
capital spending
inventory
35. Focusing on a more specific line of products or services in comparison to competitors.
impulse purchase
protectionism
retail outlet
niche strategy
36. When the imports into a country exceed the exports going out of a country.
direct selling
export controls
trade deficit
copycat
37. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
Nominal GDP
sustainable development
impulse purchase
consumer goods
38. A reduction in the selling price of an item in order to increase sales.
chain
discontinued
FMCG
markdown
39. 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.
mom-and-pop store
blight
advocacy
current account
40. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
discontinued
balance of payments
market penetration
NGOs
41. Sets of specific restraints imposed by governments on international trade.
market penetration
direct selling
sanctions
inventory management
42. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
greenfield site
oligopoly
direct selling
dealer brands
43. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
supply chain
EDI
stockroom
investment
44. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
tax haven
department store
public-private partnership
monetary policies
45. The variety of goods that a retailer sells.
GDP
depth of assortment
inventory turnover
capital spending
46. Organization for Economic Cooperation and Development
OECD
supermarket
societal
balance of trade
47. Payments made like a bribe to encourage an official to allow something or get something done.
customer
RPI
copycat
grease payments
48. Government policies to cool down an economy and prevent inflation during boom periods.
BPI
trademark
restrictive economic policies
oligopoly
49. The rare situation when budget spending is smaller than revenue.
upswing
niche strategy
budget surplus
advocacy
50. The amount of money a person has left after paying taxes and buying necessities.
beneficiary
discretionary income
current account
tax haven