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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. A period of shrinking economic activity.
downswing
dead stock
processing
FMCG
2. The different layers within a society e.g. class - income - education.
sustainable development
FMCG
social stratification
bulk discount
3. A reduction in the selling price of an item in order to increase sales.
shopping centre
central business district
sustainable
markdown
4. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
monopoly
upswing
mortgage
target market
5. 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.
Nominal GDP
monopoly
customs
trademark
6. Distribution of anything for use - including time or money.
markdown
allocation
budget deficit
consumer durables
7. A storeroom where items which cannot be put on display are stored.
supplier
protectionism
balance of payments
stockroom
8. A person who works for someone else in exchange for payment.
mortgage
variety store
employee
checkout
9. The total sum of a nation's outstanding debt.
aggregate demand
leasehold
national debt
shopping centre
10. The rate of interest at which US banks lend money to their best corporate customers.
national debt
till
prime rate
inventory turnover
11. Machine for processing sales - giving change in a shop or restaurant.
convenience store
balance of payments
checkout
mission statement
12. When governments try to stabilize economic activities by funding major projects from budget deficits.
deficit spending
consumer goods
inventory turnover
duty
13. The total amount of money in circulation in a country.
till
RPI
money supply
negotiation
14. Consumer goods that have a short life span - e.g. food or paper tissues.
statutory
investment
consumer non-durables
dealer brands
15. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.
inventory
sustainability
loyalty card
GDP
16. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
central business district
GDP
upswing
Nominal GDP
17. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).
NAFTA
outsourcing
PPP
quota
18. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.
copyright
sustainable development
counterfeit
self-service
19. When the exports a country makes exceed the imports.
trademark
trade surplus
restrictive economic policies
outsourcing
20. A shop or store.
niche strategy
recession
CPI
retail outlet
21. Involving the use of natural resources and energy in a way that does not harm the environment.
monopoly
sustainable
processing
leasehold
22. Value of the entire company as expressed by its market capitalization.
shareholder value
business cycle
balance of trade
upswing
23. The Federal Reserve - the US central banking system.
Fed
counterfeit
supply chain
chain
24. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
WTO
EDI
deficit spending
protectionism
25. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
benchmarking
discontinued
standard of living
FMCG
26. A way of measuring performance by comparing a company to similar ones.
urban
CPI
non-tariff barriers
benchmarking
27. A person or company from whom goods or services are bought.
questionable payments
prime rate
CPI
supplier
28. The skills and knowledge needed to start and run a company.
TUC
entrepreneurship
depth of assortment
checkout
29. When a customer regularly uses a store they know - like and trust.
niche strategy
store loyalty
consumer goods
currency hedging
30. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
in-stock
supermarket
trade deficit
household sector
31. Hiring an external company to perform tasks for a company and reduce costs.
advocacy
outsourcing
trade deficit
advertising
32. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
fiscal policies
supplier
BPI
RPI
33. Agreement that provided the basis for the formation of the European Union.
reduced
Maastricht Treaty
compliance
questionable payments
34. Items sold in a store during a certain period measuring in number of units or value.
sanctions
social structure
stock turnover
statutory
35. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
markup
mom-and-pop store
balance of payments
shelf warmer
36. Trade Union Congress.
processing
sanctions
TUC
customs
37. The system of organizations involved in moving a product from manufacturer to customer.
supply chain
central business district
quota
constructive economic policies
38. A computerised stock-control system which reorders stock automatically when it reaches a certain level.
compliance
automatic reordering system
budget deficit
grease payments
39. The percentage of people who do not have a job.
unemployment rate
tax haven
fiscal policies
boom
40. The purchase of a financial product or other item of value with the hope that it will become more valuable.
non-tariff barriers
investment
poverty line
AFL/CIO
41. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.
economic growth
AAA
societal
negative equity
42. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.
store loyalty
sustainable development
protectionism
myopic perspective
43. A company's main products - e.g. Opel's core product is cars.
advocacy
advertising
Americorps
core products
44. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
leasehold
sustainable
tax haven
manufacturing
45. Exclusive ownership of a property for an indefinite period of time.
NGOs
freehold
benchmarking
Nominal GDP
46. 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.
capital spending
greenfield site
trade surplus
budget deficit
47. Economic policies designed to support business and help it expand.
market equilibrium
infringement
tax revenue
constructive economic policies
48. A country's exports minus its imports.
tariff barriers
balance of trade
real GDP
shareholder value
49. Focusing on a more specific line of products or services in comparison to competitors.
open source
trade deficit
niche strategy
stakeholder
50. A period where there is little economic activity - high unemployment and much poverty.
depression
discontinued
deficit spending
fiscal policies