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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.
store
business cycle
loyalty card
WTO
2. A reduction in price offered when buying an item in higher quantities.
tax revenue
bulk discount
supply chain
constructive economic policies
3. A shop or store.
retail outlet
WTO
oligopoly
constructive economic policies
4. Agreement that provided the basis for the formation of the European Union.
counterfeit
Maastricht Treaty
beneficiary
depth of assortment
5. A person or organization which receives money from a charity.
deficit spending
beneficiary
myopic perspective
new capital investment
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.
volunteer
WTO
franchising
dealer brands
7. Something which is a copy or imitation.
fake
store loyalty
capital spending
TUC
8. The difference between merchandise costs and retail selling price.
otc drug
FDI
grease payments
markup
9. Usually software where the source code is made freely available for all users to change as they see fit.
monetary policies
household sector
chain
open source
10. The process of turning raw materials and parts into finished products.
manufacturing
shareholder
PPP
restrictive economic policies
11. When the exports a country makes exceed the imports.
copycat
manufacturing
capital spending
trade surplus
12. American Federation of Labour / Association of Industrial Organizations
allocation
shelf warmer
AFL/CIO
dead stock
13. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
direct selling
supply chain
retail outlet
Nominal GDP
14. The rare situation when budget spending is smaller than revenue.
processing
CBI
budget surplus
balance of trade
15. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.
myopic perspective
variety store
constructive economic policies
competitive
16. When a company reduces their output during a recession they have excess or idle capacity.
over the counter drug
core products
balance of trade
idle capacity
17. Refers to the number of distinct goods or services a retailer offers.
width of assortment
social stratification
markup
national debt
18. How companies try to show their products as being different from those of their rivals.
product differentiation
customs
market penetration
discretionary income
19. A period of shrinking economic activity.
WTO
monopoly
downswing
negative equity
20. A medicine which is available without first getting a prescription from a doctor.
open source
shareholder
over the counter drug
tax haven
21. The total sum of goods and services in demand.
greenfield site
aggregate demand
balance of trade
standard of living
22. Central Business District - the largest retail and office area of a city - also known as downtown
empowerment
CBD
inventory turnover
not-for-profit
23. The rate of interest at which US banks lend money to their best corporate customers.
NIMBY
leasehold
prime rate
duty
24. 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.
over the counter drug
fiscal policies
public-private partnership
markdown
25. The buying and selling of government securities by a central bank in order to control the money supply.
negotiation
factors of production
shopping centre
open-market operations
26. A collection of shops under one roof with a shared entrance and food area.
supply chain
social structure
WTO
shopping centre
27. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
greenbelt
manufacturing
business cycle
depression
28. The purchase of a financial product or other item of value with the hope that it will become more valuable.
prime rate
investment
grease payments
oligopoly
29. Imitating another company's ideas rather than developing your own.
copycat
quota
sanctions
money supply
30. 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.
customs
trade deficit
questionable payments
budget deficit
31. A reduction in the selling price of an item in order to increase sales.
recession
TUC
markdown
protectionism
32. Something that is bought without being planned for.
impulse purchase
greenbelt
outsourcing
poverty line
33. A retail store that handles a wide variety of inexpensive and cheaply priced goods.
new capital investment
variety store
downswing
benchmarking
34. Consumer goods that have a short life span - e.g. food or paper tissues.
consumer non-durables
stock turnover
inventory turnover
copyright
35. The different layers within a society e.g. class - income - education.
speciality store
advertising
supply chain
social stratification
36. The variety of goods that a retailer sells.
counterfeit
depth of assortment
consumer non-durables
business cycle
37. Financial aid by the government to an individual or group to support an activity that is in the public interest.
trade deficit
empowerment
subsidy
reduced
38. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
AAA
customer
discontinued
stakeholder
39. Obstacles to international trade based on customs tariffs.
tariff barriers
grease payments
dealer brands
money supply
40. A consultation document that sets out the government's position on a certain issue.
Green paper
producer goods
oligopoly
social structure
41. Sets of specific restraints imposed by governments on international trade.
sanctions
supplier
inventory turnover
TUC
42. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.
market penetration
vending machine
franchising
department store
43. Something that is required by law.
beneficiary
non-tariff barriers
megamall
statutory
44. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
social stratification
questionable payments
bulk discount
FDI
45. Organization for Economic Cooperation and Development
tax haven
PPP
CBD
OECD
46. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.
megamall
store
trade surplus
intellectual property
47. A period of economic expansion.
upswing
stock turnover
supply chain
barter
48. Machine for processing sales - giving change in a shop or restaurant.
checkout
upswing
factors of production
store
49. An item which is no longer produced by a manufacturer or sold by a retailer.
deficit spending
width of assortment
discontinued
consumer durables
50. The customer group a retailer wants to attract and satisfy.
aggregate demand
debit-card system
target market
statutory