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Test your basic knowledge |
Business English Vocab Test
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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. Business wholly owned by its employees with the emphasis on group decision making.
automatic reordering system
cooperative
fiscal policies
open source
2. Patterns of relationships between different groups of society.
market equilibrium
depression
monopoly
social structure
3. When a price has been cut.
reduced
real GDP
poverty line
inventory turnover
4. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?
loyalty card
Nominal GDP
tariff
PPP
5. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.
checkout
open-market operations
economic growth
governance
6. A government-imposed tax on imports.
RPI
vending machine
till
tariff
7. Agreement that provided the basis for the formation of the European Union.
debit-card system
over the counter drug
Maastricht Treaty
stockroom
8. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.
FDI
trade deficit
department store
volunteer
9. The way in which a company is controlled.
manufacturing
dealer brands
governance
markdown
10. A consultation document that sets out the government's position on a certain issue.
social structure
convenience store
Green paper
freehold
11. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
shareholder
RPI
volunteer
bulk discount
12. The resources used to produce goods and services - including land - labour - business and capital.
convenience store
allocation
factors of production
markdown
13. A retailer that concentrates on selling one particular type of good.
speciality store
copyright
market equilibrium
EPOS
14. The total amount of money in circulation in a country.
in-stock
over the counter drug
money supply
budget surplus
15. An imitation of a product made with the intent to defraud a customer.
societal
counterfeit
EDI
barter
16. A person or organization which receives money from a charity.
beneficiary
investment
Nominal GDP
TUC
17. The rare situation when budget spending is smaller than revenue.
outsourcing
budget surplus
real GDP
urban
18. Announcing that a product is for sale - trying to persuade customers to buy a product or service.
in-stock
boom
balance of payments
advertising
19. Obstacles to international trade other than tariffs.
stockroom
governance
idle capacity
non-tariff barriers
20. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
loyalty card
customer
EPOS
manufacturing
21. Something that is required by law.
quota
balance of payments
dealer brands
statutory
22. Distribution of anything for use - including time or money.
tax haven
governance
current account
allocation
23. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.
shelf warmer
sustainable development
business sector
stakeholder
24. The number of times during a period a business sells its inventory and replaces it.
inventory turnover
trade surplus
vending machine
PPP
25. Items sold in a store during a certain period measuring in number of units or value.
stock turnover
benchmarking
idle capacity
White paper
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
leasehold
inventory management
mom-and-pop store
27. Goods bought for private use.
consumer goods
restrictive economic policies
supermarket
retail outlet
28. Items which a shop has and are available to buy.
sustainable
dealer brands
in-stock
subsidy
29. An owner of shares or stocks in a company.
restrictive economic policies
shareholder
Green paper
consumer non-durables
30. The purchase of a financial product or other item of value with the hope that it will become more valuable.
supplier
NIMBY
social stratification
investment
31. A period of shrinking economic activity.
shareholder value
bulk discount
loyalty card
downswing
32. A large - long-term loan taken out to pay for a house.
mortgage
discontinued
tax haven
CBI
33. Products that can hold their own against rival products in terms of price - features or quality.
competitive
boom
compliance
market skimming
34. Payments made like a bribe to encourage an official to allow something or get something done.
grease payments
markdown
CBI
central business district
35. The support of a cause.
advocacy
stockroom
speciality store
stock turnover
36. System in which good or services are exchanged for other goods or services rather than cash.
barter
tax revenue
core products
aggregate demand
37. Trade Union Congress.
inventory management
tariff
TUC
sanctions
38. Consumer goods that have a short life span - e.g. food or paper tissues.
societal
consumer non-durables
advocacy
target market
39. Confederation of British Industry
employee
CBI
beneficiary
trademark
40. 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.
supplier
factors of production
BPI
target market
41. A country's exports minus its imports.
national debt
balance of trade
dealer brands
volunteer
42. 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.
statutory
fiscal policies
myopic perspective
market equilibrium
43. The Federal Reserve - the US central banking system.
Fed
infringement
societal
employee
44. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.
NAFTA
target market
EDI
Fed
45. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
TUC
beneficiary
real GDP
Green paper
46. Organization for Economic Cooperation and Development
CBI
OECD
central business district
current account
47. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
markup
greenfield site
blight
NGOs
48. The total sum of goods and services in demand.
aggregate demand
supermarket
variety store
CBI
49. The total sum of a nation's outstanding debt.
AAA
dead stock
standard of living
national debt
50. A retail outlet.
foreign exchange
leasehold
store
economic growth
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