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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. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.
mission statement
intellectual property
standard of living
store
2. An item which is no longer produced by a manufacturer or sold by a retailer.
open source
otc drug
discontinued
fiscal policies
3. The amount of money a person has left after paying taxes and buying necessities.
discretionary income
leasehold
balance of trade
CPI
4. A consultation document that sets out the government's position on a certain issue.
OECD
Green paper
aggregate demand
negative equity
5. A voluntary sector or charity sector organization.
consumer non-durables
mission statement
societal
not-for-profit
6. A financial instrument that facilitates payment from one currency to another.
employee
copyright
sanctions
foreign exchange
7. A company's main products - e.g. Opel's core product is cars.
Nominal GDP
discontinued
myopic perspective
core products
8. Trade Union Congress.
TUC
greenfield site
capital spending
variety store
9. A range of many things or people that are very different from each other.
diversity
inventory shrinkage
customer
reduced
10. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.
governance
barter
till
FDI
11. The total sum of a nation's outstanding debt.
dead stock
BPI
negative equity
national debt
12. The hub of retailing in a city - where the most office buildings and retail stores are.
urban
department store
business sector
central business district
13. Consumer goods that have a short life span - e.g. food or paper tissues.
beneficiary
empowerment
consumer non-durables
tariff
14. An area of land which has never been built on.
greenfield site
EPOS
household sector
market equilibrium
15. Hiring an external company to perform tasks for a company and reduce costs.
outsourcing
WTO
volunteer
supplier
16. A retail outlet.
store
customs
idle capacity
balance of payments
17. 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
poverty line
sanctions
inventory
18. The right to live in a home on a long-term tenancy.
oligopoly
leasehold
constructive economic policies
depression
19. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.
width of assortment
shopping centre
self-service
stakeholder
20. When the imports into a country exceed the exports going out of a country.
trade deficit
FMCG
mortgage
RPI
21. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).
mortgage
quota
customer
trade deficit
22. Payments made like a bribe to encourage an official to allow something or get something done.
factors of production
leasehold
AAA
grease payments
23. Statement of policy issued by a government which may form the basis of a future law.
fake
compliance
automatic reordering system
White paper
24. An individual or company buying from someone.
customer
greenfield site
not-for-profit
mom-and-pop store
25. A period where there is little economic activity - high unemployment and much poverty.
economic growth
open-market operations
recession
depression
26. Refers to the number of distinct goods or services a retailer offers.
store
width of assortment
volunteer
blight
27. Shows the flows of money into and out of a country plus transfer payments.
balance of payments
markdown
vending machine
consumer goods
28. Business wholly owned by its employees with the emphasis on group decision making.
copyright
cooperative
outsourcing
impulse purchase
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
sustainability
investment
dealer brands
30. A reduction in price offered when buying an item in higher quantities.
bulk discount
competitive
tariff
foreign exchange
31. Distribution of anything for use - including time or money.
allocation
capital spending
foreign exchange
new capital investment
32. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.
dealer brands
consumer non-durables
EPOS
aggregate demand
33. Someone who does something without being paid for it - e.g. working for a charity.
WTO
otc drug
sustainable
volunteer
34. Machine for processing sales - giving change in a shop or restaurant.
checkout
AFL/CIO
consumer goods
store
35. The rate of interest at which US banks lend money to their best corporate customers.
prime rate
stock turnover
questionable payments
department store
36. The amount of wealth - money - comfort etc that a particular person - group or society has.
EPOS
till
standard of living
Fed
37. A period of shrinking economic activity.
supermarket
Fed
till
downswing
38. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
CPI
AAA
intellectual property
foreign exchange
39. Goods bought and used by companies - such as machines. Also known as capital goods.
empowerment
export controls
consumer goods
producer goods
40. Economic policies that use money e.g. interest rates or money supply as the major instruments.
franchising
inventory
monetary policies
market equilibrium
41. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
questionable payments
megamall
reduced
market penetration
42. Buying currency options that fix exchange rates for a period of time.
boom
currency hedging
copyright
negotiation
43. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
counterfeit
shareholder
employee
CPI
44. Process of communicating back and forth until an agreement has been reached.
copyright
negotiation
poverty line
markup
45. Sets of specific restraints imposed by governments on international trade.
sanctions
employee
unemployment rate
core products
46. A retail store that handles a wide variety of inexpensive and cheaply priced goods.
variety store
open-market operations
tariff barriers
Maastricht Treaty
47. A country's exports minus its imports.
entrepreneurship
balance of trade
NGOs
manufacturing
48. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
depth of assortment
business cycle
RPI
advertising
49. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
currency hedging
direct selling
OECD
monopoly
50. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
loyalty card
EDI
foreign exchange
megamall
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