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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. Process of communicating back and forth until an agreement has been reached.
AFL/CIO
benchmarking
negotiation
protectionism
2. A storeroom where items which cannot be put on display are stored.
variety store
oligopoly
stockroom
beneficiary
3. The skills and knowledge needed to start and run a company.
entrepreneurship
restrictive economic policies
governance
cooperative
4. Obstacles to international trade based on customs tariffs.
stockroom
tariff barriers
current account
economic growth
5. Usually software where the source code is made freely available for all users to change as they see fit.
store
standard of living
manufacturing
open source
6. Statement of policy issued by a government which may form the basis of a future law.
White paper
market skimming
counterfeit
consumer goods
7. American Federation of Labour / Association of Industrial Organizations
impulse purchase
niche strategy
copycat
AFL/CIO
8. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.
counterfeit
inventory
unemployment rate
product differentiation
9. Financial aid by the government to an individual or group to support an activity that is in the public interest.
Nominal GDP
subsidy
Green paper
bulk discount
10. The money a state earns via taxation.
societal
subsidy
AFL/CIO
tax revenue
11. A test or way of measuring something.
till
producer goods
assessment
market penetration
12. An item which is no longer produced by a manufacturer or sold by a retailer.
not-for-profit
barter
discontinued
compliance
13. System in which good or services are exchanged for other goods or services rather than cash.
stakeholder
competitive
barter
megamall
14. Goods bought for private use.
tariff barriers
RPI
variety store
consumer goods
15. The sum of money invested in new or additional equipment.
White paper
new capital investment
outsourcing
leasehold
16. The total amount of money in circulation in a country.
money supply
questionable payments
sustainable development
boom
17. Relating to cities or built up areas - not the countryside.
urban
CBI
speciality store
OECD
18. Value of the entire company as expressed by its market capitalization.
economic growth
TUC
stock turnover
shareholder value
19. A sign or symbol used by a company such as the Nike swish logo which is protected by law.
trademark
processing
blight
employee
20. Items which a shop has and are available to buy.
recession
greenfield site
negotiation
in-stock
21. Machine for processing sales - giving change in a shop or restaurant.
PPP
sustainable
governance
checkout
22. When the exports a country makes exceed the imports.
shopping centre
idle capacity
trade surplus
consumer durables
23. Patterns of relationships between different groups of society.
cooperative
social structure
market penetration
FDI
24. A country's exports minus its imports.
monopoly
greenbelt
balance of trade
standard of living
25. The purchase of a financial product or other item of value with the hope that it will become more valuable.
open-market operations
business cycle
investment
WTO
26. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
national debt
PPP
dealer brands
target market
27. A computerised stock-control system which reorders stock automatically when it reaches a certain level.
automatic reordering system
new capital investment
statutory
depression
28. When a customer regularly uses a store they know - like and trust.
automatic reordering system
fake
stakeholder
store loyalty
29. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
cooperative
RPI
depression
Maastricht Treaty
30. 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?
PPP
governance
megamall
processing
31. Connected with society and the way it is organized.
central business district
societal
AFL/CIO
otc drug
32. Government policies to cool down an economy and prevent inflation during boom periods.
barter
restrictive economic policies
megamall
CPI
33. Trade Union Congress.
megamall
TUC
self-service
factors of production
34. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
questionable payments
AAA
greenbelt
blight
35. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.
tax revenue
investment
customs
intellectual property
36. A company's main products - e.g. Opel's core product is cars.
core products
AFL/CIO
width of assortment
recession
37. The checking - ordering & processing of stock levels.
dealer brands
inventory management
diversity
otc drug
38. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
greenbelt
core products
retail outlet
otc drug
39. An individual or company buying from someone.
export controls
customer
franchising
mom-and-pop store
40. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
WTO
sanctions
direct selling
consumer goods
41. Hiring an external company to perform tasks for a company and reduce costs.
current account
outsourcing
target market
benchmarking
42. Something that is required by law.
customs
statutory
money supply
CPI
43. A retail outlet.
monopoly
convenience store
store
vending machine
44. Payments made like a bribe to encourage an official to allow something or get something done.
entrepreneurship
grease payments
central business district
cooperative
45. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
allocation
freehold
direct selling
restrictive economic policies
46. 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.
capital spending
fiscal policies
downswing
franchising
47. Agreement that provided the basis for the formation of the European Union.
mission statement
currency hedging
Maastricht Treaty
trademark
48. The customer group a retailer wants to attract and satisfy.
automatic reordering system
target market
variety store
PPP
49. The buying and selling of government securities by a central bank in order to control the money supply.
oligopoly
open-market operations
urban
core products
50. Refers to the number of distinct goods or services a retailer offers.
employee
width of assortment
oligopoly
consumer non-durables