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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. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
WTO
mom-and-pop store
factors of production
White paper
2. Someone who does something without being paid for it - e.g. working for a charity.
social stratification
grease payments
depression
volunteer
3. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
Fed
dealer brands
advertising
shelf warmer
4. Trade Union Congress.
open-market operations
TUC
outsourcing
Fed
5. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
sustainable development
AAA
NGOs
tariff barriers
6. A reduction in the selling price of an item in order to increase sales.
idle capacity
markdown
money supply
core products
7. A voluntary sector or charity sector organization.
stock turnover
not-for-profit
grease payments
Americorps
8. Goods bought for private use.
store loyalty
niche strategy
consumer goods
entrepreneurship
9. A retail store that handles a wide variety of inexpensive and cheaply priced goods.
customer
variety store
GDP
infringement
10. An enormous planned shopping centre with hundreds of stores under one roof.
depression
megamall
consumer non-durables
embargo
11. An individual or company buying from someone.
unemployment rate
customer
open-market operations
balance of trade
12. Usually software where the source code is made freely available for all users to change as they see fit.
open source
business sector
money supply
barter
13. When a company reduces their output during a recession they have excess or idle capacity.
budget deficit
idle capacity
consumer durables
supplier
14. A person or organization which receives money from a charity.
debit-card system
beneficiary
CPI
PPP
15. Relating to cities or built up areas - not the countryside.
urban
prime rate
real GDP
otc drug
16. A reduction in price offered when buying an item in higher quantities.
fiscal policies
protectionism
tax revenue
bulk discount
17. A large - long-term loan taken out to pay for a house.
myopic perspective
mortgage
subsidy
barter
18. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
CPI
stakeholder
subsidy
megamall
19. The violation of a law or right.
core products
infringement
deficit spending
Green paper
20. Meeting accepted guidelines or laws.
capital spending
greenbelt
compliance
consumer durables
21. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.
savings rate
NAFTA
grease payments
budget surplus
22. Confederation of British Industry
currency hedging
beneficiary
CBI
consumer durables
23. A period of economic expansion.
loyalty card
upswing
negative equity
benchmarking
24. Organization for Economic Cooperation and Development
OECD
shelf warmer
beneficiary
balance of trade
25. A person or company from whom goods or services are bought.
supplier
real GDP
target market
subsidy
26. Focusing on a more specific line of products or services in comparison to competitors.
questionable payments
niche strategy
savings rate
depth of assortment
27. When a customer regularly uses a store they know - like and trust.
department store
trade surplus
store loyalty
restrictive economic policies
28. Business wholly owned by its employees with the emphasis on group decision making.
governance
outsourcing
cooperative
open-market operations
29. An item which is no longer produced by a manufacturer or sold by a retailer.
depression
producer goods
recession
discontinued
30. A shop or store.
retail outlet
export controls
protectionism
Maastricht Treaty
31. Exclusive ownership of a property for an indefinite period of time.
entrepreneurship
intellectual property
negative equity
freehold
32. An imitation of a product made with the intent to defraud a customer.
counterfeit
myopic perspective
AAA
constructive economic policies
33. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
Nominal GDP
entrepreneurship
variety store
household sector
34. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.
EPOS
duty
shareholder value
factors of production
35. Government policies to cool down an economy and prevent inflation during boom periods.
restrictive economic policies
not-for-profit
chain
competitive
36. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
standard of living
business cycle
social stratification
protectionism
37. Goods bought and used by companies - such as machines. Also known as capital goods.
national debt
governance
producer goods
infringement
38. A period of very high economic activity.
current account
White paper
boom
balance of trade
39. 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.
social structure
household sector
questionable payments
vending machine
40. When the imports into a country exceed the exports going out of a country.
volunteer
trade deficit
inventory shrinkage
White paper
41. A period of shrinking economic activity.
RPI
household sector
shareholder value
downswing
42. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.
intellectual property
empowerment
store
width of assortment
43. The amount of wealth - money - comfort etc that a particular person - group or society has.
social structure
standard of living
vending machine
depression
44. Items sold in a store during a certain period measuring in number of units or value.
statutory
stock turnover
public-private partnership
mission statement
45. 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
manufacturing
prime rate
budget surplus
46. Connected with society and the way it is organized.
protectionism
manufacturing
otc drug
societal
47. The percentage of a household's income that is saved.
capital spending
quota
variety store
savings rate
48. 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?
niche strategy
bulk discount
PPP
open source
49. When the amount borrowed to pay for a home is now more than the property is actually worth.
negative equity
compliance
foreign exchange
poverty line
50. When budget spending exceeds revenue.
budget deficit
WTO
direct selling
product differentiation