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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. A card payment system where the cost of goods or services is immediately removed from a bank account.
restrictive economic policies
RPI
TUC
debit-card system
2. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
household sector
mom-and-pop store
GDP
otc drug
3. Financial aid by the government to an individual or group to support an activity that is in the public interest.
subsidy
questionable payments
beneficiary
monopoly
4. A storeroom where items which cannot be put on display are stored.
stockroom
Maastricht Treaty
real GDP
sustainable
5. A country's exports minus its imports.
shareholder value
advocacy
balance of trade
economic growth
6. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
WTO
inventory management
economic growth
factors of production
7. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
AFL/CIO
deficit spending
GDP
tax revenue
8. The variety of goods that a retailer sells.
PPP
depth of assortment
FDI
recession
9. A retail outlet.
empowerment
store
money supply
shopping centre
10. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.
idle capacity
NGOs
supply chain
stakeholder
11. The sum of money invested in new or additional equipment.
tax haven
new capital investment
business sector
checkout
12. The number of times during a period a business sells its inventory and replaces it.
processing
advertising
inventory turnover
standard of living
13. When a price has been cut.
unemployment rate
barter
reduced
business cycle
14. An imitation of a product made with the intent to defraud a customer.
empowerment
inventory
counterfeit
convenience store
15. Focusing on a more specific line of products or services in comparison to competitors.
leasehold
inventory management
mortgage
niche strategy
16. The Federal Reserve - the US central banking system.
savings rate
Fed
PPP
impulse purchase
17. A period of very high economic activity.
manufacturing
poverty line
boom
markup
18. Obstacles to international trade based on customs tariffs.
tariff barriers
business cycle
customer
shopping centre
19. The difference between merchandise costs and retail selling price.
EPOS
upswing
shareholder value
markup
20. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).
quota
discontinued
standard of living
dead stock
21. The legal right of the owner of a work over its control and distribution.
Maastricht Treaty
markup
copyright
PPP
22. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
volunteer
inventory shrinkage
impulse purchase
diversity
23. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
questionable payments
retail outlet
beneficiary
quota
24. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.
constructive economic policies
freehold
economic growth
business sector
25. Doing something (performing a process) to make a material ready for your requirments.
fiscal policies
discretionary income
processing
social stratification
26. Goods bought and used by companies - such as machines. Also known as capital goods.
discontinued
producer goods
loyalty card
shelf warmer
27. A retail store that handles a wide variety of inexpensive and cheaply priced goods.
beneficiary
upswing
trade surplus
variety store
28. The percentage of a household's income that is saved.
savings rate
fake
NGOs
foreign exchange
29. Hiring an external company to perform tasks for a company and reduce costs.
core products
outsourcing
trade deficit
sanctions
30. When a private company provides a public service in agreement with a government or council.
statutory
copycat
allocation
public-private partnership
31. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
competitive
sanctions
standard of living
real GDP
32. The rate of interest at which US banks lend money to their best corporate customers.
prime rate
sustainable
width of assortment
trade surplus
33. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
EDI
copycat
Maastricht Treaty
subsidy
34. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
cooperative
tax haven
business cycle
discontinued
35. A retailer that concentrates on selling one particular type of good.
Nominal GDP
monetary policies
speciality store
target market
36. Items in a store which have not sold for a longer period of time.
NGOs
shareholder
dead stock
monopoly
37. Something that is bought without being planned for.
otc drug
Americorps
EPOS
impulse purchase
38. A sign or symbol used by a company such as the Nike swish logo which is protected by law.
balance of payments
trademark
RPI
customs
39. Economic policies that use money e.g. interest rates or money supply as the major instruments.
variety store
NGOs
customs
monetary policies
40. Someone who does something without being paid for it - e.g. working for a charity.
consumer goods
economic growth
volunteer
store loyalty
41. A large - long-term loan taken out to pay for a house.
greenbelt
stock turnover
dead stock
mortgage
42. Trade Union Congress.
PPP
inventory shrinkage
consumer durables
TUC
43. The process of turning raw materials and parts into finished products.
speciality store
White paper
manufacturing
urban
44. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
monetary policies
in-stock
protectionism
vending machine
45. A period where there is little economic activity - high unemployment and much poverty.
reduced
consumer goods
tariff
depression
46. When a customer regularly uses a store they know - like and trust.
EDI
sustainable development
store loyalty
monetary policies
47. The skills and knowledge needed to start and run a company.
open-market operations
entrepreneurship
stakeholder
shareholder
48. Confederation of British Industry
stakeholder
markdown
CBI
direct selling
49. Connected with society and the way it is organized.
societal
copyright
stock turnover
AAA
50. A reduction in the selling price of an item in order to increase sales.
NGOs
processing
foreign exchange
markdown
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