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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 price has been cut.
self-service
reduced
sustainable
copyright
2. Machine for processing sales - giving change in a shop or restaurant.
export controls
NIMBY
checkout
customs
3. A person or company from whom goods or services are bought.
investment
aggregate demand
supplier
assessment
4. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
negative equity
money supply
NIMBY
competitive
5. A retailer that concentrates on selling one particular type of good.
speciality store
market equilibrium
negative equity
employee
6. The Federal Reserve - the US central banking system.
producer goods
embargo
Fed
reduced
7. Something that is required by law.
statutory
economic growth
foreign exchange
recession
8. The resources used to produce goods and services - including land - labour - business and capital.
width of assortment
factors of production
tariff
supermarket
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.
speciality store
statutory
impulse purchase
BPI
10. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
duty
barter
investment
market skimming
11. Volunteer organization for young - disadvantaged Americans.
downswing
mission statement
Americorps
prime rate
12. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.
trade surplus
market penetration
bulk discount
loyalty card
13. American Federation of Labour / Association of Industrial Organizations
AFL/CIO
standard of living
BPI
urban
14. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
foreign exchange
dealer brands
depression
balance of payments
15. The skills and knowledge needed to start and run a company.
entrepreneurship
market skimming
discretionary income
blight
16. The different layers within a society e.g. class - income - education.
stock turnover
depression
aggregate demand
social stratification
17. Usually software where the source code is made freely available for all users to change as they see fit.
greenbelt
Green paper
vending machine
open source
18. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
downswing
impulse purchase
fiscal policies
tax haven
19. A period where there is little economic activity - high unemployment and much poverty.
markdown
depression
trademark
governance
20. Business wholly owned by its employees with the emphasis on group decision making.
beneficiary
capital spending
cooperative
shareholder
21. The balance between interest rates and the demand for money.
oligopoly
business cycle
central business district
market equilibrium
22. The difference between merchandise costs and retail selling price.
public-private partnership
governance
markup
central business district
23. The rare situation when budget spending is smaller than revenue.
real GDP
budget surplus
store loyalty
upswing
24. The customer group a retailer wants to attract and satisfy.
aggregate demand
blight
target market
GDP
25. When the amount borrowed to pay for a home is now more than the property is actually worth.
chain
market skimming
trademark
negative equity
26. When the imports into a country exceed the exports going out of a country.
new capital investment
mom-and-pop store
negotiation
trade deficit
27. A medicine which is available without first getting a prescription from a doctor.
subsidy
open-market operations
quota
over the counter drug
28. Sets of specific restraints imposed by governments on international trade.
diversity
sanctions
business sector
dealer brands
29. An imitation of a product made with the intent to defraud a customer.
mortgage
current account
counterfeit
downswing
30. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
business cycle
greenfield site
GDP
CPI
31. A reduction in the selling price of an item in order to increase sales.
compliance
markdown
urban
trade deficit
32. A consultation document that sets out the government's position on a certain issue.
shopping centre
duty
Green paper
stakeholder
33. The right to live in a home on a long-term tenancy.
constructive economic policies
leasehold
AFL/CIO
GDP
34. Goods bought for private use.
myopic perspective
consumer goods
impulse purchase
supplier
35. Consumer goods that have a short life span - e.g. food or paper tissues.
consumer non-durables
core products
White paper
poverty line
36. A period of economic expansion.
market skimming
width of assortment
monetary policies
upswing
37. A country's exports minus its imports.
balance of trade
capital spending
department store
EPOS
38. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
statutory
non-tariff barriers
producer goods
otc drug
39. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.
copyright
sustainability
megamall
myopic perspective
40. A test or way of measuring something.
loyalty card
assessment
employee
product differentiation
41. The money a state earns via taxation.
tax revenue
copyright
budget deficit
inventory management
42. The percentage of people who do not have a job.
upswing
negative equity
assessment
unemployment rate
43. Government policies to cool down an economy and prevent inflation during boom periods.
public-private partnership
shareholder
trade deficit
restrictive economic policies
44. A retail outlet.
consumer goods
impulse purchase
WTO
store
45. The total sum of goods and services in demand.
aggregate demand
infringement
standard of living
embargo
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.
embargo
counterfeit
barter
franchising
47. When a customer regularly uses a store they know - like and trust.
store loyalty
shopping centre
consumer durables
unemployment rate
48. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
EDI
factors of production
consumer goods
customs
49. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.
Maastricht Treaty
FDI
quota
fiscal policies
50. Items in a store which have not sold for a longer period of time.
dead stock
diversity
speciality store
supply chain