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Test your basic knowledge |
Business English Vocab Test
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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
money supply
fiscal policies
business cycle
2. Hiring an external company to perform tasks for a company and reduce costs.
chain
employee
economic growth
outsourcing
3. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
idle capacity
EDI
advertising
supermarket
4. The support of a cause.
upswing
target market
advocacy
discretionary income
5. A person who works for someone else in exchange for payment.
shareholder
open source
societal
employee
6. An imitation of a product made with the intent to defraud a customer.
TUC
fiscal policies
mom-and-pop store
counterfeit
7. The legal right of the owner of a work over its control and distribution.
NIMBY
copyright
market penetration
retail outlet
8. The purchase of a financial product or other item of value with the hope that it will become more valuable.
in-stock
AAA
investment
AFL/CIO
9. Involving the use of natural resources and energy in a way that does not harm the environment.
monopoly
market skimming
sustainable
copyright
10. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
CBD
savings rate
tax revenue
greenbelt
11. The way in which a company is controlled.
supply chain
governance
balance of payments
retail outlet
12. Announcing that a product is for sale - trying to persuade customers to buy a product or service.
market penetration
direct selling
advertising
FDI
13. 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.
oligopoly
capital spending
monetary policies
core products
14. The money a state earns via taxation.
market skimming
tax revenue
White paper
NIMBY
15. Focusing on a more specific line of products or services in comparison to competitors.
niche strategy
loyalty card
CPI
idle capacity
16. A financial instrument that facilitates payment from one currency to another.
processing
foreign exchange
over the counter drug
open-market operations
17. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
consumer durables
compliance
otc drug
White paper
18. Financial aid by the government to an individual or group to support an activity that is in the public interest.
subsidy
tax haven
megamall
balance of trade
19. A retail store that handles a wide variety of inexpensive and cheaply priced goods.
variety store
tariff
infringement
shelf warmer
20. A sign or symbol used by a company such as the Nike swish logo which is protected by law.
investment
WTO
trademark
NGOs
21. A period of economic expansion.
retail outlet
upswing
debit-card system
prime rate
22. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
recession
copycat
AFL/CIO
Nominal GDP
23. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
upswing
chain
shelf warmer
mortgage
24. A government-imposed tax on imports.
tariff
White paper
consumer goods
stock turnover
25. The total amount of money in circulation in a country.
direct selling
copyright
business sector
money supply
26. When budget spending exceeds revenue.
supplier
sustainable
budget deficit
tariff
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.
variety store
competitive
mission statement
direct selling
28. The process of turning raw materials and parts into finished products.
manufacturing
urban
trade surplus
myopic perspective
29. A self-service food store with grocery - meat and produce departments.
market skimming
consumer durables
supermarket
copyright
30. Multiple retail units under common ownership.
business sector
White paper
negative equity
chain
31. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
counterfeit
blight
household sector
discretionary income
32. When a price has been cut.
reduced
mission statement
governance
tax haven
33. Development which can be done without harming the environment or natural resources.
investment
business cycle
stockroom
sustainable development
34. The skills and knowledge needed to start and run a company.
supermarket
vending machine
entrepreneurship
questionable payments
35. A way of measuring performance by comparing a company to similar ones.
societal
department store
mom-and-pop store
benchmarking
36. A test or way of measuring something.
assessment
discontinued
impulse purchase
oligopoly
37. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
direct selling
fiscal policies
shelf warmer
Green paper
38. 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.
recession
store
fiscal policies
CPI
39. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.
markup
economic growth
convenience store
unemployment rate
40. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
consumer goods
convenience store
factors of production
central business district
41. The violation of a law or right.
variety store
manufacturing
debit-card system
infringement
42. Economic policies that use money e.g. interest rates or money supply as the major instruments.
shareholder
duty
diversity
monetary policies
43. Organization for Economic Cooperation and Development
factors of production
duty
OECD
economic growth
44. A period of very high economic activity.
quota
negotiation
boom
barter
45. Buying currency options that fix exchange rates for a period of time.
currency hedging
competitive
business cycle
outsourcing
46. Government policies to cool down an economy and prevent inflation during boom periods.
restrictive economic policies
advertising
market skimming
monetary policies
47. Doing something (performing a process) to make a material ready for your requirments.
loyalty card
processing
discretionary income
balance of trade
48. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
savings rate
beneficiary
GDP
grease payments
49. An owner of shares or stocks in a company.
shareholder
Nominal GDP
Fed
household sector
50. The amount of wealth - money - comfort etc that a particular person - group or society has.
trademark
over the counter drug
standard of living
stock turnover
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