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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. The violation of a law or right.
TUC
infringement
copyright
supply chain
2. A consultation document that sets out the government's position on a certain issue.
megamall
Green paper
supermarket
processing
3. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.
quota
store loyalty
trade surplus
self-service
4. Something that is required by law.
statutory
open source
trade deficit
NIMBY
5. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
trade deficit
household sector
debit-card system
economic growth
6. A large retail unit selling a wide variety of goods in separate departments.
EPOS
public-private partnership
manufacturing
department store
7. 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.
capital spending
target market
current account
inventory turnover
8. Volunteer organization for young - disadvantaged Americans.
mom-and-pop store
Americorps
inventory
bulk discount
9. Sets of specific restraints imposed by governments on international trade.
impulse purchase
variety store
non-tariff barriers
sanctions
10. Statement of policy issued by a government which may form the basis of a future law.
tax revenue
downswing
White paper
supply chain
11. Central Business District - the largest retail and office area of a city - also known as downtown
CBD
current account
stock turnover
not-for-profit
12. Payments made like a bribe to encourage an official to allow something or get something done.
grease payments
GDP
manufacturing
balance of payments
13. A sign or symbol used by a company such as the Nike swish logo which is protected by law.
trademark
PPP
duty
subsidy
14. An item which is no longer produced by a manufacturer or sold by a retailer.
customer
shelf warmer
advocacy
discontinued
15. A period of decline in economic activity.
restrictive economic policies
convenience store
recession
sustainability
16. A small owner-operated store serving a local community.
mom-and-pop store
trade deficit
in-stock
dead stock
17. A person who works for someone else in exchange for payment.
CBD
balance of trade
NAFTA
employee
18. When a small number of companies control a certain market.
volunteer
real GDP
subsidy
oligopoly
19. A minimum income level below which people are officially poor.
negative equity
poverty line
producer goods
recession
20. An economic sanction that forbids the import of a specific product or all products from a specific country.
embargo
intellectual property
CBD
societal
21. Shows the flows of money into and out of a country plus transfer payments.
balance of payments
tax revenue
direct selling
customs
22. Financial aid by the government to an individual or group to support an activity that is in the public interest.
target market
export controls
subsidy
capital spending
23. A retail store that handles a wide variety of inexpensive and cheaply priced goods.
self-service
monetary policies
variety store
cooperative
24. The process of turning raw materials and parts into finished products.
dealer brands
manufacturing
embargo
urban
25. Money which is spent on construction - land - machinery etc which has an expected working life of more than one year - investments in the future of a business.
capital spending
shareholder value
CPI
sustainability
26. The amount of wealth - money - comfort etc that a particular person - group or society has.
standard of living
loyalty card
balance of trade
fiscal policies
27. The support of a cause.
advocacy
consumer non-durables
customer
investment
28. A way of measuring performance by comparing a company to similar ones.
allocation
barter
balance of payments
benchmarking
29. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
consumer durables
EDI
stockroom
shareholder
30. The hub of retailing in a city - where the most office buildings and retail stores are.
AAA
central business district
self-service
markup
31. Consumer goods that have a long life span - e.g. furniture.
open source
consumer goods
consumer durables
customs
32. The system of organizations involved in moving a product from manufacturer to customer.
investment
inventory
supply chain
dead stock
33. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
questionable payments
convenience store
Fed
processing
34. Value of the entire company as expressed by its market capitalization.
department store
capital spending
consumer durables
shareholder value
35. Giving people the freedom to decide things and take responsibility for themselves.
empowerment
depth of assortment
till
governance
36. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
real GDP
depression
customs
questionable payments
37. Involving the use of natural resources and energy in a way that does not harm the environment.
aggregate demand
sustainable
not-for-profit
capital spending
38. Connected with society and the way it is organized.
empowerment
societal
fiscal policies
national debt
39. Regular fluctuations in overall economic activity over time.
in-stock
Americorps
export controls
business cycle
40. How companies try to show their products as being different from those of their rivals.
depression
product differentiation
capital spending
supplier
41. 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.
fiscal policies
consumer durables
shareholder
vending machine
42. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
niche strategy
copycat
FDI
inventory shrinkage
43. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.
market penetration
barter
mission statement
constructive economic policies
44. The total amount of money in circulation in a country.
money supply
CPI
household sector
national debt
45. A retailer that concentrates on selling one particular type of good.
tax haven
money supply
width of assortment
speciality store
46. Goods bought and used by companies - such as machines. Also known as capital goods.
retail outlet
trade deficit
inventory management
producer goods
47. Multiple retail units under common ownership.
non-tariff barriers
chain
copycat
CBI
48. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
cooperative
myopic perspective
Nominal GDP
barter
49. Hiring an external company to perform tasks for a company and reduce costs.
balance of payments
speciality store
outsourcing
governance
50. A government-imposed tax on imports.
vending machine
OECD
market penetration
tariff
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