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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.
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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. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
household sector
upswing
customs
GDP
2. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
Fed
not-for-profit
RPI
NIMBY
3. Regular fluctuations in overall economic activity over time.
megamall
inventory management
capital spending
business cycle
4. A consultation document that sets out the government's position on a certain issue.
questionable payments
Green paper
infringement
shopping centre
5. The right to live in a home on a long-term tenancy.
mortgage
leasehold
sustainable development
compliance
6. The customer group a retailer wants to attract and satisfy.
stock turnover
entrepreneurship
target market
Nominal GDP
7. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.
aggregate demand
core products
self-service
diversity
8. Patterns of relationships between different groups of society.
White paper
loyalty card
NIMBY
social structure
9. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
upswing
savings rate
Nominal GDP
not-for-profit
10. Sets of specific restraints imposed by governments on international trade.
governance
sanctions
central business district
open-market operations
11. Consumer goods that have a short life span - e.g. food or paper tissues.
inventory turnover
OECD
balance of trade
consumer non-durables
12. Development which can be done without harming the environment or natural resources.
sustainable development
monopoly
AAA
discontinued
13. When the exports a country makes exceed the imports.
till
volunteer
trade surplus
economic growth
14. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
leasehold
impulse purchase
entrepreneurship
questionable payments
15. The buying and selling of government securities by a central bank in order to control the money supply.
consumer goods
assessment
open-market operations
megamall
16. Giving people the freedom to decide things and take responsibility for themselves.
copycat
direct selling
empowerment
speciality store
17. Connected with society and the way it is organized.
protectionism
real GDP
questionable payments
societal
18. The total sum of a nation's outstanding debt.
protectionism
national debt
oligopoly
questionable payments
19. The way in which a company is controlled.
debit-card system
statutory
governance
Nominal GDP
20. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
convenience store
budget surplus
markup
duty
21. 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.
restrictive economic policies
capital spending
depression
grease payments
22. A large retail unit selling a wide variety of goods in separate departments.
department store
prime rate
depression
reduced
23. The balance between interest rates and the demand for money.
sustainable development
market equilibrium
advocacy
budget deficit
24. When the amount borrowed to pay for a home is now more than the property is actually worth.
trade deficit
negative equity
market skimming
social structure
25. A way of measuring performance by comparing a company to similar ones.
protectionism
foreign exchange
budget surplus
benchmarking
26. The variety of goods that a retailer sells.
depth of assortment
entrepreneurship
capital spending
bulk discount
27. How companies try to show their products as being different from those of their rivals.
freehold
retail outlet
product differentiation
Green paper
28. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
NIMBY
aggregate demand
trademark
shareholder
29. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
infringement
competitive
new capital investment
monopoly
30. A person or company from whom goods or services are bought.
shareholder
supplier
speciality store
intellectual property
31. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
self-service
sustainable
markdown
shelf warmer
32. A large - long-term loan taken out to pay for a house.
sustainable
non-tariff barriers
Fed
mortgage
33. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
central business district
WTO
budget surplus
tax haven
34. 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.
monopoly
volunteer
sustainable development
vending machine
35. Confederation of British Industry
boom
social stratification
CBI
market penetration
36. A period of very high economic activity.
boom
reduced
trade surplus
oligopoly
37. Trade Union Congress.
social structure
supermarket
reduced
TUC
38. An individual or company buying from someone.
customer
allocation
shopping centre
market penetration
39. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
investment
inventory turnover
AFL/CIO
dealer brands
40. The process of turning raw materials and parts into finished products.
core products
manufacturing
societal
balance of trade
41. Focusing on a more specific line of products or services in comparison to competitors.
stock turnover
idle capacity
checkout
niche strategy
42. A country's exports minus its imports.
balance of trade
trademark
upswing
non-tariff barriers
43. The percentage of a household's income that is saved.
savings rate
money supply
depression
bulk discount
44. A tax imposed on imports by the customs authority of a country.
copycat
duty
Maastricht Treaty
oligopoly
45. A small owner-operated store serving a local community.
blight
mom-and-pop store
unemployment rate
consumer goods
46. Meeting accepted guidelines or laws.
freehold
TUC
OECD
compliance
47. A company's main products - e.g. Opel's core product is cars.
discretionary income
Nominal GDP
core products
debit-card system
48. A medicine which is available without first getting a prescription from a doctor.
till
over the counter drug
Americorps
balance of trade
49. Items sold in a store during a certain period measuring in number of units or value.
niche strategy
capital spending
stock turnover
real GDP
50. Economic policies designed to support business and help it expand.
store loyalty
constructive economic policies
market skimming
supply chain
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