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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. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.
inventory
supplier
vending machine
RPI
2. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
bulk discount
GDP
self-service
negotiation
3. A financial instrument that facilitates payment from one currency to another.
factors of production
foreign exchange
consumer goods
self-service
4. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
WTO
stakeholder
capital spending
statutory
5. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
vending machine
niche strategy
retail outlet
greenbelt
6. A shop or store.
sustainability
retail outlet
investment
stakeholder
7. A sign or symbol used by a company such as the Nike swish logo which is protected by law.
discretionary income
embargo
trademark
TUC
8. A reduction in the selling price of an item in order to increase sales.
PPP
markdown
shelf warmer
sustainable
9. A retail outlet.
NGOs
till
store
stakeholder
10. Imitating another company's ideas rather than developing your own.
supplier
FDI
copycat
chain
11. A medicine which is available without first getting a prescription from a doctor.
inventory turnover
empowerment
over the counter drug
current account
12. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
dealer brands
loyalty card
market penetration
trade surplus
13. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
investment
business cycle
CBD
market skimming
14. The checking - ordering & processing of stock levels.
tariff
sanctions
social stratification
inventory management
15. The skills and knowledge needed to start and run a company.
greenfield site
urban
department store
entrepreneurship
16. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
Fed
depression
convenience store
customer
17. A government-imposed tax on imports.
diversity
depth of assortment
fiscal policies
tariff
18. Involving the use of natural resources and energy in a way that does not harm the environment.
sustainable
store loyalty
social stratification
consumer non-durables
19. A card payment system where the cost of goods or services is immediately removed from a bank account.
mortgage
shopping centre
savings rate
debit-card system
20. Buying Power Index - a measure of a geographic area's market characteristics in terms of percentage of the US population - percentage of US retail sales and percentage of US effective buying income.
allocation
stock turnover
inventory
BPI
21. Refers to the number of distinct goods or services a retailer offers.
idle capacity
self-service
diversity
width of assortment
22. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
tax haven
subsidy
open-market operations
volunteer
23. A retailer that concentrates on selling one particular type of good.
speciality store
competitive
trade deficit
processing
24. The total sum of goods and services in demand.
tariff
money supply
aggregate demand
empowerment
25. A company's main products - e.g. Opel's core product is cars.
core products
in-stock
leasehold
mom-and-pop store
26. When a customer regularly uses a store they know - like and trust.
consumer durables
negative equity
store loyalty
balance of trade
27. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
Nominal GDP
poverty line
reduced
otc drug
28. Distribution of anything for use - including time or money.
capital spending
consumer non-durables
dealer brands
allocation
29. A consultation document that sets out the government's position on a certain issue.
competitive
store
store loyalty
Green paper
30. Regular fluctuations in overall economic activity over time.
EDI
copyright
constructive economic policies
business cycle
31. A test or way of measuring something.
export controls
questionable payments
assessment
monopoly
32. The money a state earns via taxation.
OECD
balance of payments
tax revenue
copyright
33. The hub of retailing in a city - where the most office buildings and retail stores are.
FDI
GDP
fake
central business district
34. American Federation of Labour / Association of Industrial Organizations
depression
entrepreneurship
supermarket
AFL/CIO
35. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.
counterfeit
dead stock
idle capacity
EPOS
36. A large retail unit selling a wide variety of goods in separate departments.
department store
product differentiation
monetary policies
counterfeit
37. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
allocation
CPI
protectionism
trade surplus
38. A person who works for someone else in exchange for payment.
market skimming
employee
protectionism
TUC
39. When the exports a country makes exceed the imports.
assessment
trade surplus
counterfeit
copyright
40. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
shopping centre
consumer goods
EDI
CPI
41. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
beneficiary
Nominal GDP
greenfield site
NAFTA
42. A reduction in price offered when buying an item in higher quantities.
inventory turnover
embargo
supplier
bulk discount
43. The amount of money a person has left after paying taxes and buying necessities.
franchising
balance of payments
tariff barriers
discretionary income
44. The percentage of people who do not have a job.
stakeholder
investment
unemployment rate
capital spending
45. A period of shrinking economic activity.
in-stock
downswing
consumer goods
FDI
46. Multiple retail units under common ownership.
prime rate
markdown
copyright
chain
47. Value of the entire company as expressed by its market capitalization.
sustainable
societal
producer goods
shareholder value
48. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
fake
direct selling
market equilibrium
TUC
49. Obstacles to international trade other than tariffs.
EPOS
depth of assortment
department store
non-tariff barriers
50. Patterns of relationships between different groups of society.
WTO
speciality store
social structure
product differentiation