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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 storeroom where items which cannot be put on display are stored.
freehold
width of assortment
stockroom
loyalty card
2. The different layers within a society e.g. class - income - education.
shelf warmer
social stratification
FDI
compliance
3. Government policies to cool down an economy and prevent inflation during boom periods.
upswing
copyright
beneficiary
restrictive economic policies
4. The violation of a law or right.
infringement
BPI
loyalty card
constructive economic policies
5. The total sum of goods and services in demand.
depression
store
aggregate demand
open-market operations
6. A small owner-operated store serving a local community.
OECD
width of assortment
grease payments
mom-and-pop store
7. A company's main products - e.g. Opel's core product is cars.
speciality store
department store
mom-and-pop store
core products
8. An economic sanction that forbids the import of a specific product or all products from a specific country.
PPP
employee
embargo
supplier
9. Consumer goods that have a short life span - e.g. food or paper tissues.
consumer non-durables
societal
franchising
stockroom
10. Payments made like a bribe to encourage an official to allow something or get something done.
inventory turnover
grease payments
business sector
supply chain
11. Volunteer organization for young - disadvantaged Americans.
Americorps
core products
assessment
budget surplus
12. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
Nominal GDP
reduced
money supply
inventory shrinkage
13. Obstacles to international trade other than tariffs.
non-tariff barriers
shelf warmer
stock turnover
Nominal GDP
14. A period of economic expansion.
upswing
FMCG
tariff
retail outlet
15. Agreement that provided the basis for the formation of the European Union.
markup
deficit spending
balance of payments
Maastricht Treaty
16. A way of measuring performance by comparing a company to similar ones.
franchising
subsidy
benchmarking
national debt
17. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
automatic reordering system
cooperative
monopoly
WTO
18. American Federation of Labour / Association of Industrial Organizations
inventory shrinkage
AFL/CIO
budget surplus
manufacturing
19. When the amount borrowed to pay for a home is now more than the property is actually worth.
greenbelt
negative equity
volunteer
width of assortment
20. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
household sector
WTO
CPI
questionable payments
21. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
blight
questionable payments
shopping centre
reduced
22. The customer group a retailer wants to attract and satisfy.
target market
customs
market skimming
discretionary income
23. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
statutory
savings rate
otc drug
downswing
24. Doing something (performing a process) to make a material ready for your requirments.
competitive
variety store
embargo
processing
25. Something that is bought without being planned for.
impulse purchase
tax revenue
social stratification
aggregate demand
26. The Federal Reserve - the US central banking system.
Fed
copycat
currency hedging
consumer durables
27. Process of communicating back and forth until an agreement has been reached.
mom-and-pop store
self-service
negotiation
sustainability
28. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
store loyalty
RPI
economic growth
tariff barriers
29. The purchase of a financial product or other item of value with the hope that it will become more valuable.
PPP
current account
investment
speciality store
30. The rare situation when budget spending is smaller than revenue.
budget surplus
current account
open source
over the counter drug
31. A large retail unit selling a wide variety of goods in separate departments.
producer goods
FDI
balance of payments
department store
32. A sign or symbol used by a company such as the Nike swish logo which is protected by law.
currency hedging
diversity
trademark
PPP
33. Goods bought and used by companies - such as machines. Also known as capital goods.
producer goods
Fed
market skimming
megamall
34. The process of turning raw materials and parts into finished products.
tariff
processing
supplier
manufacturing
35. Usually software where the source code is made freely available for all users to change as they see fit.
advertising
open source
negotiation
impulse purchase
36. Connected with society and the way it is organized.
intellectual property
shopping centre
greenfield site
societal
37. When a small number of companies control a certain market.
oligopoly
barter
tax revenue
societal
38. When budget spending exceeds revenue.
budget deficit
unemployment rate
compliance
assessment
39. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
prime rate
direct selling
customer
employee
40. When governments try to stabilize economic activities by funding major projects from budget deficits.
oligopoly
prime rate
tax revenue
deficit spending
41. When a company reduces their output during a recession they have excess or idle capacity.
intellectual property
consumer goods
idle capacity
questionable payments
42. Trade Union Congress.
compliance
societal
retail outlet
TUC
43. An imitation of a product made with the intent to defraud a customer.
capital spending
WTO
counterfeit
product differentiation
44. 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.
business cycle
fiscal policies
protectionism
discontinued
45. Shows the flows of money into and out of a country plus transfer payments.
volunteer
boom
standard of living
balance of payments
46. Economic policies that use money e.g. interest rates or money supply as the major instruments.
monetary policies
mom-and-pop store
urban
entrepreneurship
47. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.
governance
market penetration
market skimming
in-stock
48. A period where there is little economic activity - high unemployment and much poverty.
blight
EDI
depression
CBI
49. A reduction in price offered when buying an item in higher quantities.
bulk discount
discretionary income
myopic perspective
central business district
50. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
White paper
advocacy
markup
market skimming