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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 card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
otc drug
consumer non-durables
freehold
loyalty card
2. Goods bought and used by companies - such as machines. Also known as capital goods.
GDP
producer goods
CBD
till
3. A range of many things or people that are very different from each other.
franchising
freehold
diversity
customer
4. Confederation of British Industry
shareholder value
megamall
CBI
poverty line
5. A shop or store.
business cycle
shopping centre
retail outlet
Nominal GDP
6. 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.
franchising
subsidy
mission statement
impulse purchase
7. A way of measuring performance by comparing a company to similar ones.
discontinued
not-for-profit
Fed
benchmarking
8. When a small number of companies control a certain market.
speciality store
Americorps
oligopoly
unemployment rate
9. 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.
fiscal policies
EDI
shareholder value
infringement
10. The violation of a law or right.
current account
negotiation
aggregate demand
infringement
11. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.
manufacturing
self-service
savings rate
customer
12. A medicine which is available without first getting a prescription from a doctor.
not-for-profit
over the counter drug
oligopoly
Maastricht Treaty
13. A computerised stock-control system which reorders stock automatically when it reaches a certain level.
producer goods
variety store
FMCG
automatic reordering system
14. The hub of retailing in a city - where the most office buildings and retail stores are.
CBI
shopping centre
central business district
budget surplus
15. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
protectionism
trade deficit
PPP
copyright
16. A retailing format that involves the coin- or card-operated dispensing of goods and services. It eliminates the use of sales personnel and allows around-the-clock sales.
capital spending
NAFTA
vending machine
trademark
17. Buying currency options that fix exchange rates for a period of time.
entrepreneurship
in-stock
advocacy
currency hedging
18. The total amount of money in circulation in a country.
stakeholder
processing
money supply
inventory turnover
19. The different layers within a society e.g. class - income - education.
EDI
unemployment rate
social stratification
constructive economic policies
20. A person who works for someone else in exchange for payment.
questionable payments
mom-and-pop store
counterfeit
employee
21. Government policies to cool down an economy and prevent inflation during boom periods.
boom
restrictive economic policies
entrepreneurship
convenience store
22. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
inventory shrinkage
open source
direct selling
beneficiary
23. Distribution of anything for use - including time or money.
allocation
producer goods
questionable payments
volunteer
24. Items in a store which have not sold for a longer period of time.
business cycle
dead stock
duty
processing
25. The rate of interest at which US banks lend money to their best corporate customers.
stock turnover
loyalty card
boom
prime rate
26. Volunteer organization for young - disadvantaged Americans.
EDI
customs
Americorps
manufacturing
27. Trade Union Congress.
copyright
bulk discount
TUC
tax revenue
28. When governments try to stabilize economic activities by funding major projects from budget deficits.
central business district
discretionary income
deficit spending
copyright
29. A storeroom where items which cannot be put on display are stored.
discontinued
stockroom
dead stock
OECD
30. The area of the economy that produces goods and provides services.
Fed
business sector
customer
idle capacity
31. The rare situation when budget spending is smaller than revenue.
Green paper
budget surplus
Fed
benchmarking
32. The customer group a retailer wants to attract and satisfy.
barter
supply chain
target market
central business district
33. When a price has been cut.
manufacturing
GDP
real GDP
reduced
34. Organization for Economic Cooperation and Development
mom-and-pop store
real GDP
OECD
social structure
35. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
greenbelt
unemployment rate
economic growth
prime rate
36. Payments made like a bribe to encourage an official to allow something or get something done.
franchising
grease payments
manufacturing
depth of assortment
37. Financial aid by the government to an individual or group to support an activity that is in the public interest.
franchising
store loyalty
tax haven
subsidy
38. 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.
upswing
self-service
customs
prime rate
39. How companies try to show their products as being different from those of their rivals.
supply chain
product differentiation
oligopoly
statutory
40. Exclusive ownership of a property for an indefinite period of time.
BPI
inventory management
statutory
freehold
41. The way in which a company is controlled.
WTO
governance
trade deficit
upswing
42. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
foreign exchange
direct selling
investment
grease payments
43. The amount of money a person has left after paying taxes and buying necessities.
greenbelt
RPI
currency hedging
discretionary income
44. A period where there is little economic activity - high unemployment and much poverty.
consumer durables
White paper
depth of assortment
depression
45. Consumer goods that have a short life span - e.g. food or paper tissues.
social stratification
width of assortment
consumer non-durables
WTO
46. Products that can hold their own against rival products in terms of price - features or quality.
cooperative
assessment
competitive
Green paper
47. A country's exports minus its imports.
economic growth
fake
restrictive economic policies
balance of trade
48. When the amount borrowed to pay for a home is now more than the property is actually worth.
Fed
direct selling
negative equity
retail outlet
49. 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.
quota
social stratification
FDI
current account
50. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.
mission statement
diversity
economic growth
recession