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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. When a customer regularly uses a store they know - like and trust.
greenfield site
balance of trade
store loyalty
shopping centre
2. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
inventory management
WTO
social stratification
assessment
3. 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.
tariff
discretionary income
customs
greenfield site
4. Organization for Economic Cooperation and Development
quota
consumer goods
benchmarking
OECD
5. A reduction in price offered when buying an item in higher quantities.
market penetration
bulk discount
stockroom
restrictive economic policies
6. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
not-for-profit
depression
RPI
capital spending
7. A voluntary sector or charity sector organization.
oligopoly
entrepreneurship
not-for-profit
convenience store
8. Payments made like a bribe to encourage an official to allow something or get something done.
BPI
consumer durables
grease payments
fake
9. 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.
retail outlet
consumer goods
BPI
shelf warmer
10. Statement of policy issued by a government which may form the basis of a future law.
market skimming
mom-and-pop store
White paper
downswing
11. Agreement that provided the basis for the formation of the European Union.
chain
prime rate
NGOs
Maastricht Treaty
12. Giving people the freedom to decide things and take responsibility for themselves.
monopoly
empowerment
oligopoly
cooperative
13. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
Nominal GDP
AAA
business sector
CPI
14. The balance between interest rates and the demand for money.
market equilibrium
negative equity
inventory
customs
15. An individual or company buying from someone.
employee
current account
customer
sustainability
16. A period of decline in economic activity.
GDP
target market
recession
CBI
17. Exclusive ownership of a property for an indefinite period of time.
barter
market equilibrium
freehold
competitive
18. An item which is no longer produced by a manufacturer or sold by a retailer.
societal
discontinued
GDP
reduced
19. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
non-tariff barriers
convenience store
idle capacity
consumer durables
20. Distribution of anything for use - including time or money.
allocation
aggregate demand
grease payments
volunteer
21. A self-service food store with grocery - meat and produce departments.
supermarket
direct selling
budget surplus
negative equity
22. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
upswing
allocation
NIMBY
product differentiation
23. The percentage of a household's income that is saved.
savings rate
bulk discount
megamall
counterfeit
24. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
speciality store
business cycle
outsourcing
tax haven
25. 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.
supermarket
negative equity
inventory management
mission statement
26. 1. The sum of the balance of trade plus net factor income (interest dividends) plus net transfer payments (foreign aid).2. Low or no-interest bank account used for daily transactions e.g. using an ATM - with a cheque book or debit card.
current account
direct selling
money supply
aggregate demand
27. 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.
direct selling
loyalty card
fiscal policies
current account
28. A large - long-term loan taken out to pay for a house.
central business district
current account
mortgage
inventory
29. An owner of shares or stocks in a company.
foreign exchange
volunteer
tariff
shareholder
30. The violation of a law or right.
infringement
downswing
White paper
advertising
31. The checking - ordering & processing of stock levels.
stock turnover
width of assortment
inventory management
supermarket
32. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.
Fed
deficit spending
greenfield site
FDI
33. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
inventory
Nominal GDP
freehold
automatic reordering system
34. Financial aid by the government to an individual or group to support an activity that is in the public interest.
supermarket
competitive
subsidy
upswing
35. Involving the use of natural resources and energy in a way that does not harm the environment.
open-market operations
aggregate demand
over the counter drug
sustainable
36. The area of the economy that produces goods and provides services.
speciality store
competitive
TUC
business sector
37. The total amount of money in circulation in a country.
money supply
real GDP
new capital investment
advocacy
38. Buying currency options that fix exchange rates for a period of time.
competitive
duty
currency hedging
discontinued
39. How companies try to show their products as being different from those of their rivals.
upswing
niche strategy
product differentiation
empowerment
40. A minimum income level below which people are officially poor.
FMCG
infringement
sustainable development
poverty line
41. Regular fluctuations in overall economic activity over time.
White paper
product differentiation
protectionism
business cycle
42. A retail outlet.
store
foreign exchange
debit-card system
franchising
43. The amount of wealth - money - comfort etc that a particular person - group or society has.
vending machine
standard of living
budget deficit
department store
44. A sign or symbol used by a company such as the Nike swish logo which is protected by law.
economic growth
AAA
trademark
store loyalty
45. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
urban
public-private partnership
till
household sector
46. A financial instrument that facilitates payment from one currency to another.
beneficiary
dead stock
foreign exchange
investment
47. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.
stakeholder
loyalty card
money supply
CBI
48. 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
protectionism
stock turnover
standard of living
49. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
greenbelt
monopoly
embargo
core products
50. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.
business sector
CBI
intellectual property
markup