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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 total amount of money in circulation in a country.
stakeholder
national debt
money supply
employee
2. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
customer
NIMBY
empowerment
capital spending
3. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
subsidy
niche strategy
loyalty card
capital spending
4. Agreement that provided the basis for the formation of the European Union.
supplier
till
Maastricht Treaty
market penetration
5. The customer group a retailer wants to attract and satisfy.
discontinued
monetary policies
target market
BPI
6. Consumer goods that have a short life span - e.g. food or paper tissues.
depth of assortment
business cycle
sustainable
consumer non-durables
7. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
consumer non-durables
FMCG
business cycle
loyalty card
8. Exclusive ownership of a property for an indefinite period of time.
mission statement
freehold
sustainability
household sector
9. The process of turning raw materials and parts into finished products.
markdown
budget surplus
manufacturing
CBD
10. A retail outlet.
inventory management
consumer non-durables
store
mission statement
11. Economic policies that use money e.g. interest rates or money supply as the major instruments.
monetary policies
boom
dealer brands
store loyalty
12. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
CPI
in-stock
negative equity
variety store
13. The resources used to produce goods and services - including land - labour - business and capital.
factors of production
NIMBY
aggregate demand
empowerment
14. A medicine which is available without first getting a prescription from a doctor.
entrepreneurship
inventory turnover
over the counter drug
counterfeit
15. A small owner-operated store serving a local community.
width of assortment
mom-and-pop store
balance of payments
constructive economic policies
16. The different layers within a society e.g. class - income - education.
national debt
social stratification
savings rate
FMCG
17. Multiple retail units under common ownership.
FDI
entrepreneurship
chain
prime rate
18. 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
deficit spending
current account
mission statement
19. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.
EPOS
FDI
WTO
copyright
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.
GDP
BPI
copyright
product differentiation
21. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
household sector
store loyalty
savings rate
blight
22. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.
intellectual property
franchising
tax revenue
social structure
23. A way of measuring performance by comparing a company to similar ones.
NGOs
dead stock
benchmarking
societal
24. Items which a shop has and are available to buy.
cooperative
store
in-stock
intellectual property
25. A storeroom where items which cannot be put on display are stored.
non-tariff barriers
White paper
societal
stockroom
26. An enormous planned shopping centre with hundreds of stores under one roof.
aggregate demand
empowerment
restrictive economic policies
megamall
27. A reduction in the selling price of an item in order to increase sales.
empowerment
fiscal policies
markdown
GDP
28. 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.
copyright
fiscal policies
NIMBY
copycat
29. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?
duty
PPP
non-tariff barriers
deficit spending
30. A tax imposed on imports by the customs authority of a country.
over the counter drug
discontinued
fiscal policies
duty
31. The hub of retailing in a city - where the most office buildings and retail stores are.
business cycle
duty
reduced
central business district
32. A person who works for someone else in exchange for payment.
AFL/CIO
employee
balance of trade
megamall
33. 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.
monopoly
capital spending
GDP
idle capacity
34. American Federation of Labour / Association of Industrial Organizations
till
megamall
entrepreneurship
AFL/CIO
35. Relating to cities or built up areas - not the countryside.
negative equity
urban
trade deficit
inventory shrinkage
36. Focusing on a more specific line of products or services in comparison to competitors.
niche strategy
social stratification
megamall
sustainability
37. Business wholly owned by its employees with the emphasis on group decision making.
cooperative
counterfeit
CPI
product differentiation
38. 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.
product differentiation
GDP
franchising
compliance
39. An economic sanction that forbids the import of a specific product or all products from a specific country.
shareholder value
unemployment rate
embargo
Green paper
40. Involving the use of natural resources and energy in a way that does not harm the environment.
sustainable
core products
societal
manufacturing
41. Hiring an external company to perform tasks for a company and reduce costs.
outsourcing
capital spending
not-for-profit
AAA
42. An area of land which has never been built on.
producer goods
franchising
greenfield site
current account
43. The sum of money invested in new or additional equipment.
statutory
grease payments
new capital investment
CPI
44. When the amount borrowed to pay for a home is now more than the property is actually worth.
negative equity
supply chain
trade deficit
compliance
45. Imitating another company's ideas rather than developing your own.
loyalty card
target market
sustainable development
copycat
46. Payments made like a bribe to encourage an official to allow something or get something done.
EDI
grease payments
convenience store
standard of living
47. Meeting accepted guidelines or laws.
impulse purchase
duty
compliance
shelf warmer
48. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.
inventory
monopoly
open-market operations
self-service
49. Confederation of British Industry
Americorps
variety store
CBI
GDP
50. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
protectionism
freehold
convenience store
EDI