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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. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
Nominal GDP
urban
poverty line
monopoly
2. Meeting accepted guidelines or laws.
compliance
open-market operations
in-stock
Nominal GDP
3. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.
open source
intellectual property
tax revenue
target market
4. The process of turning raw materials and parts into finished products.
target market
discretionary income
direct selling
manufacturing
5. A retailing format that involves the coin- or card-operated dispensing of goods and services. It eliminates the use of sales personnel and allows around-the-clock sales.
vending machine
governance
fake
standard of living
6. When the exports a country makes exceed the imports.
negative equity
bulk discount
barter
trade surplus
7. Involving the use of natural resources and energy in a way that does not harm the environment.
counterfeit
national debt
sustainable
deficit spending
8. An owner of shares or stocks in a company.
shareholder
discretionary income
copycat
counterfeit
9. Someone who does something without being paid for it - e.g. working for a charity.
over the counter drug
open source
aggregate demand
volunteer
10. Items sold in a store during a certain period measuring in number of units or value.
aggregate demand
idle capacity
stock turnover
sustainable development
11. When governments try to stabilize economic activities by funding major projects from budget deficits.
BPI
automatic reordering system
quota
deficit spending
12. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
protectionism
reduced
household sector
downswing
13. When budget spending exceeds revenue.
AAA
open-market operations
savings rate
budget deficit
14. A range of many things or people that are very different from each other.
diversity
supermarket
dead stock
boom
15. 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.
duty
supplier
retail outlet
franchising
16. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
national debt
otc drug
embargo
foreign exchange
17. 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.
myopic perspective
shelf warmer
mission statement
discretionary income
18. A way of measuring performance by comparing a company to similar ones.
benchmarking
compliance
national debt
balance of trade
19. Regulations that mean permission from the government is required before certain items can be exported.
markup
duty
FMCG
export controls
20. 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.
social structure
BPI
current account
economic growth
21. The total amount of money in circulation in a country.
money supply
restrictive economic policies
FMCG
NIMBY
22. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.
White paper
EPOS
producer goods
supplier
23. Value of the entire company as expressed by its market capitalization.
AAA
infringement
shareholder value
stakeholder
24. An individual or company buying from someone.
barter
customer
grease payments
non-tariff barriers
25. Imitating another company's ideas rather than developing your own.
copycat
advertising
over the counter drug
FMCG
26. Agreement that provided the basis for the formation of the European Union.
inventory shrinkage
Maastricht Treaty
budget surplus
variety store
27. Consumer goods that have a long life span - e.g. furniture.
inventory turnover
consumer durables
franchising
business sector
28. A person or company from whom goods or services are bought.
target market
supplier
checkout
subsidy
29. A small owner-operated store serving a local community.
questionable payments
chain
customer
mom-and-pop store
30. The skills and knowledge needed to start and run a company.
NAFTA
current account
dealer brands
entrepreneurship
31. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
restrictive economic policies
AAA
oligopoly
recession
32. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
competitive
market skimming
Green paper
inventory shrinkage
33. The resources used to produce goods and services - including land - labour - business and capital.
RPI
factors of production
consumer goods
width of assortment
34. When a private company provides a public service in agreement with a government or council.
public-private partnership
megamall
protectionism
barter
35. Obstacles to international trade other than tariffs.
loyalty card
markup
business cycle
non-tariff barriers
36. The total sum of a nation's outstanding debt.
sanctions
copyright
national debt
market penetration
37. When the imports into a country exceed the exports going out of a country.
RPI
trade deficit
infringement
savings rate
38. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
EDI
shareholder value
supplier
debit-card system
39. Announcing that a product is for sale - trying to persuade customers to buy a product or service.
advertising
real GDP
trade surplus
franchising
40. Sets of specific restraints imposed by governments on international trade.
over the counter drug
negative equity
sanctions
competitive
41. Economic policies designed to support business and help it expand.
greenfield site
constructive economic policies
downswing
real GDP
42. Something that is bought without being planned for.
Nominal GDP
impulse purchase
copycat
loyalty card
43. A tax imposed on imports by the customs authority of a country.
aggregate demand
duty
Nominal GDP
market equilibrium
44. A collection of shops under one roof with a shared entrance and food area.
shopping centre
advocacy
stock turnover
self-service
45. Central Business District - the largest retail and office area of a city - also known as downtown
inventory shrinkage
FMCG
subsidy
CBD
46. System in which good or services are exchanged for other goods or services rather than cash.
barter
target market
producer goods
constructive economic policies
47. Statement of policy issued by a government which may form the basis of a future law.
negotiation
social structure
White paper
assessment
48. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
counterfeit
downswing
real GDP
balance of payments
49. Refers to the number of distinct goods or services a retailer offers.
width of assortment
poverty line
questionable payments
business sector
50. Items which a shop has and are available to buy.
protectionism
sanctions
in-stock
EPOS