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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).
quota
sustainable development
store
vending machine
2. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
FMCG
manufacturing
advertising
social stratification
3. Economic policies designed to support business and help it expand.
constructive economic policies
export controls
consumer goods
intellectual property
4. Items in a store which have not sold for a longer period of time.
consumer goods
benchmarking
dead stock
EPOS
5. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.
consumer non-durables
vending machine
myopic perspective
EPOS
6. Process of communicating back and forth until an agreement has been reached.
negotiation
variety store
copyright
product differentiation
7. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
Nominal GDP
in-stock
negative equity
inventory shrinkage
8. A reduction in price offered when buying an item in higher quantities.
allocation
bulk discount
unemployment rate
customer
9. Something that is bought without being planned for.
impulse purchase
Green paper
poverty line
fake
10. Machine for processing sales - taking payments - giving change. Also know as a cash register.
embargo
till
shopping centre
balance of payments
11. 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.
franchising
inventory shrinkage
foreign exchange
beneficiary
12. The hub of retailing in a city - where the most office buildings and retail stores are.
leasehold
tariff barriers
central business district
stockroom
13. Organization for Economic Cooperation and Development
blight
OECD
national debt
negotiation
14. A period of decline in economic activity.
chain
product differentiation
recession
AFL/CIO
15. An extremely adverse environmental condition.
blight
convenience store
fiscal policies
shopping centre
16. The money a state earns via taxation.
inventory management
tax revenue
sustainable
balance of payments
17. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
market skimming
monetary policies
discontinued
budget deficit
18. System in which good or services are exchanged for other goods or services rather than cash.
inventory shrinkage
unemployment rate
shopping centre
barter
19. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
protectionism
in-stock
dead stock
assessment
20. The different layers within a society e.g. class - income - education.
social stratification
producer goods
prime rate
impulse purchase
21. American Federation of Labour / Association of Industrial Organizations
shopping centre
franchising
central business district
AFL/CIO
22. Central Business District - the largest retail and office area of a city - also known as downtown
advertising
NAFTA
CBD
AFL/CIO
23. The resources used to produce goods and services - including land - labour - business and capital.
stockroom
new capital investment
national debt
factors of production
24. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
CPI
societal
investment
loyalty card
25. The skills and knowledge needed to start and run a company.
balance of payments
entrepreneurship
grease payments
supplier
26. A reduction in the selling price of an item in order to increase sales.
markdown
inventory
over the counter drug
cooperative
27. Sets of specific restraints imposed by governments on international trade.
consumer non-durables
benchmarking
sanctions
national debt
28. A tax imposed on imports by the customs authority of a country.
barter
shareholder
duty
volunteer
29. When budget spending exceeds revenue.
CBI
benchmarking
poverty line
budget deficit
30. An imitation of a product made with the intent to defraud a customer.
non-tariff barriers
quota
store loyalty
counterfeit
31. A large retail unit selling a wide variety of goods in separate departments.
business cycle
negative equity
Americorps
department store
32. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.
volunteer
automatic reordering system
balance of trade
myopic perspective
33. The system of organizations involved in moving a product from manufacturer to customer.
supply chain
till
unemployment rate
discretionary income
34. A range of many things or people that are very different from each other.
diversity
household sector
discretionary income
trade surplus
35. Buying currency options that fix exchange rates for a period of time.
beneficiary
idle capacity
open-market operations
currency hedging
36. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
negative equity
convenience store
automatic reordering system
balance of trade
37. Consumer goods that have a short life span - e.g. food or paper tissues.
OECD
consumer non-durables
AAA
restrictive economic policies
38. The difference between merchandise costs and retail selling price.
markup
BPI
otc drug
sustainable
39. An owner of shares or stocks in a company.
shareholder
shopping centre
RPI
capital spending
40. Giving people the freedom to decide things and take responsibility for themselves.
competitive
downswing
benchmarking
empowerment
41. A country's exports minus its imports.
discretionary income
balance of trade
advocacy
TUC
42. A company's main products - e.g. Opel's core product is cars.
standard of living
FDI
stockroom
core products
43. Items sold in a store during a certain period measuring in number of units or value.
supply chain
copyright
stock turnover
EDI
44. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
discontinued
AAA
money supply
business sector
45. Goods bought for private use.
inventory turnover
economic growth
consumer goods
depression
46. When a small number of companies control a certain market.
bulk discount
tariff barriers
oligopoly
benchmarking
47. Payments made like a bribe to encourage an official to allow something or get something done.
tax haven
stockroom
grease payments
market equilibrium
48. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
questionable payments
mission statement
protectionism
Fed
49. A medicine which is available without first getting a prescription from a doctor.
intellectual property
over the counter drug
recession
producer goods
50. A storeroom where items which cannot be put on display are stored.
stockroom
in-stock
not-for-profit
stock turnover