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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 balance between interest rates and the demand for money.
Nominal GDP
advocacy
market equilibrium
mortgage
2. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.
public-private partnership
embargo
market penetration
vending machine
3. The buying and selling of government securities by a central bank in order to control the money supply.
speciality store
NAFTA
open-market operations
foreign exchange
4. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
WTO
market skimming
depth of assortment
budget deficit
5. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
Fed
AAA
niche strategy
reduced
6. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
greenbelt
assessment
convenience store
quota
7. An item which is no longer produced by a manufacturer or sold by a retailer.
upswing
product differentiation
investment
discontinued
8. A retail store that handles a wide variety of inexpensive and cheaply priced goods.
export controls
variety store
reduced
stock turnover
9. A range of many things or people that are very different from each other.
depth of assortment
diversity
depression
target market
10. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.
deficit spending
employee
depth of assortment
economic growth
11. The amount of wealth - money - comfort etc that a particular person - group or society has.
unemployment rate
CPI
standard of living
customs
12. A collection of shops under one roof with a shared entrance and food area.
recession
shopping centre
NAFTA
export controls
13. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
supply chain
quota
real GDP
mortgage
14. Doing something (performing a process) to make a material ready for your requirments.
oligopoly
compliance
GDP
processing
15. The difference between merchandise costs and retail selling price.
processing
bulk discount
markup
tax haven
16. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.
supermarket
sustainability
AFL/CIO
speciality store
17. A minimum income level below which people are officially poor.
fiscal policies
negotiation
recession
poverty line
18. A large retail unit selling a wide variety of goods in separate departments.
debit-card system
balance of payments
department store
constructive economic policies
19. Focusing on a more specific line of products or services in comparison to competitors.
negotiation
current account
niche strategy
market skimming
20. Hiring an external company to perform tasks for a company and reduce costs.
inventory management
trade deficit
outsourcing
factors of production
21. When budget spending exceeds revenue.
budget deficit
urban
speciality store
volunteer
22. An extremely adverse environmental condition.
blight
governance
in-stock
markdown
23. 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.
shopping centre
capital spending
franchising
empowerment
24. Something that is bought without being planned for.
market equilibrium
advocacy
core products
impulse purchase
25. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
greenbelt
export controls
duty
trade deficit
26. 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.
mom-and-pop store
AAA
poverty line
capital spending
27. A period of decline in economic activity.
societal
AFL/CIO
debit-card system
recession
28. The different layers within a society e.g. class - income - education.
supermarket
inventory turnover
social stratification
poverty line
29. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
foreign exchange
currency hedging
monopoly
WTO
30. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.
sustainable
FMCG
idle capacity
inventory
31. Regulations that mean permission from the government is required before certain items can be exported.
customs
export controls
employee
constructive economic policies
32. 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.
subsidy
dead stock
CPI
current account
33. Machine for processing sales - taking payments - giving change. Also know as a cash register.
convenience store
till
stock turnover
Americorps
34. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
customer
protectionism
open source
depth of assortment
35. An economic sanction that forbids the import of a specific product or all products from a specific country.
AAA
embargo
export controls
trade surplus
36. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.
FDI
CBI
idle capacity
balance of trade
37. Regular fluctuations in overall economic activity over time.
economic growth
processing
chain
business cycle
38. Value of the entire company as expressed by its market capitalization.
shareholder value
intellectual property
real GDP
FMCG
39. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
CPI
public-private partnership
sanctions
processing
40. A consultation document that sets out the government's position on a certain issue.
greenfield site
producer goods
store loyalty
Green paper
41. A period of very high economic activity.
advocacy
boom
depression
CPI
42. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
fiscal policies
social stratification
otc drug
OECD
43. The amount of money a person has left after paying taxes and buying necessities.
CBD
discretionary income
business cycle
copycat
44. A reduction in price offered when buying an item in higher quantities.
franchising
tariff barriers
unemployment rate
bulk discount
45. An imitation of a product made with the intent to defraud a customer.
counterfeit
megamall
trade surplus
protectionism
46. The sum of money invested in new or additional equipment.
automatic reordering system
new capital investment
shareholder
niche strategy
47. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
automatic reordering system
factors of production
NIMBY
household sector
48. The way in which a company is controlled.
mortgage
governance
debit-card system
stockroom
49. A government-imposed tax on imports.
statutory
societal
tariff
inventory management
50. The resources used to produce goods and services - including land - labour - business and capital.
factors of production
consumer durables
savings rate
depression