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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. A card payment system where the cost of goods or services is immediately removed from a bank account.
deficit spending
debit-card system
supplier
automatic reordering system
2. A minimum income level below which people are officially poor.
balance of trade
idle capacity
poverty line
public-private partnership
3. The amount of wealth - money - comfort etc that a particular person - group or society has.
department store
standard of living
non-tariff barriers
savings rate
4. A person or company from whom goods or services are bought.
supplier
dead stock
poverty line
NAFTA
5. An economic sanction that forbids the import of a specific product or all products from a specific country.
recession
shelf warmer
embargo
downswing
6. Items which a shop has and are available to buy.
self-service
open source
in-stock
compliance
7. A shop or store.
leasehold
retail outlet
intellectual property
copycat
8. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
GDP
market skimming
discretionary income
intellectual property
9. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
fiscal policies
consumer goods
barter
inventory shrinkage
10. Volunteer organization for young - disadvantaged Americans.
copyright
sustainable
RPI
Americorps
11. When a company reduces their output during a recession they have excess or idle capacity.
GDP
NIMBY
idle capacity
advertising
12. Payments made like a bribe to encourage an official to allow something or get something done.
barter
bulk discount
grease payments
depth of assortment
13. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.
volunteer
core products
blight
EPOS
14. Machine for processing sales - giving change in a shop or restaurant.
FMCG
checkout
money supply
direct selling
15. Something that is bought without being planned for.
impulse purchase
megamall
sustainability
cooperative
16. When the amount borrowed to pay for a home is now more than the property is actually worth.
negotiation
aggregate demand
negative equity
customs
17. Consumer goods that have a long life span - e.g. furniture.
money supply
barter
copycat
consumer durables
18. A reduction in price offered when buying an item in higher quantities.
protectionism
empowerment
bulk discount
megamall
19. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
statutory
downswing
sustainable
household sector
20. Economic policies designed to support business and help it expand.
intellectual property
constructive economic policies
stock turnover
store loyalty
21. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
copyright
GDP
inventory management
stakeholder
22. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
budget surplus
poverty line
processing
NGOs
23. Patterns of relationships between different groups of society.
social structure
shareholder value
employee
CBI
24. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
market penetration
depression
target market
tax haven
25. Connected with society and the way it is organized.
BPI
societal
store
TUC
26. Something that is required by law.
sustainable development
statutory
NGOs
Americorps
27. A range of many things or people that are very different from each other.
downswing
diversity
target market
greenfield site
28. Buying currency options that fix exchange rates for a period of time.
Americorps
market penetration
trade deficit
currency hedging
29. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
loyalty card
investment
greenfield site
savings rate
30. Organization for Economic Cooperation and Development
deficit spending
OECD
current account
stakeholder
31. Meeting accepted guidelines or laws.
tax revenue
compliance
mom-and-pop store
standard of living
32. A medicine which is available without first getting a prescription from a doctor.
greenfield site
in-stock
upswing
over the counter drug
33. Distribution of anything for use - including time or money.
negative equity
constructive economic policies
variety store
allocation
34. American Federation of Labour / Association of Industrial Organizations
customer
national debt
Maastricht Treaty
AFL/CIO
35. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
household sector
Nominal GDP
economic growth
TUC
36. 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
store
markdown
market skimming
37. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.
myopic perspective
blight
FDI
NIMBY
38. Something which is a copy or imitation.
consumer goods
fake
inventory turnover
boom
39. When the imports into a country exceed the exports going out of a country.
NGOs
market equilibrium
trade deficit
duty
40. Items in a store which have not sold for a longer period of time.
trademark
sustainable
dead stock
bulk discount
41. Financial aid by the government to an individual or group to support an activity that is in the public interest.
mortgage
subsidy
boom
foreign exchange
42. The rare situation when budget spending is smaller than revenue.
real GDP
budget surplus
supplier
CPI
43. Goods bought for private use.
consumer goods
myopic perspective
CPI
boom
44. An imitation of a product made with the intent to defraud a customer.
empowerment
core products
counterfeit
dealer brands
45. The difference between merchandise costs and retail selling price.
markup
balance of trade
tariff barriers
markdown
46. Multiple retail units under common ownership.
open-market operations
societal
economic growth
chain
47. The total amount of money in circulation in a country.
self-service
not-for-profit
money supply
trade deficit
48. Focusing on a more specific line of products or services in comparison to competitors.
non-tariff barriers
AFL/CIO
niche strategy
FDI
49. The money a state earns via taxation.
tax revenue
freehold
protectionism
width of assortment
50. A large retail unit selling a wide variety of goods in separate departments.
variety store
franchising
reduced
department store
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