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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. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
empowerment
GDP
depression
impulse purchase
2. When budget spending exceeds revenue.
empowerment
Green paper
sustainable development
budget deficit
3. When a small number of companies control a certain market.
Maastricht Treaty
social stratification
oligopoly
diversity
4. When a private company provides a public service in agreement with a government or council.
supermarket
infringement
vending machine
public-private partnership
5. Exclusive ownership of a property for an indefinite period of time.
freehold
impulse purchase
poverty line
discretionary income
6. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
consumer goods
competitive
household sector
barter
7. When the imports into a country exceed the exports going out of a country.
balance of payments
trade deficit
discretionary income
GDP
8. A system where a company allows someone to run a specific business using the company's products or brand in exchange for a fee or share of the profits - McDonalds is a famous franchise.
franchising
counterfeit
Maastricht Treaty
currency hedging
9. Agreement that provided the basis for the formation of the European Union.
oligopoly
megamall
Maastricht Treaty
department store
10. The percentage of a household's income that is saved.
inventory
savings rate
counterfeit
White paper
11. 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.
dead stock
processing
AAA
customs
12. A way of measuring performance by comparing a company to similar ones.
benchmarking
AFL/CIO
discretionary income
prime rate
13. A minimum income level below which people are officially poor.
poverty line
allocation
business sector
central business district
14. A test or way of measuring something.
assessment
unemployment rate
over the counter drug
franchising
15. Process of communicating back and forth until an agreement has been reached.
vending machine
downswing
negotiation
freehold
16. The right to live in a home on a long-term tenancy.
subsidy
beneficiary
leasehold
FMCG
17. A consultation document that sets out the government's position on a certain issue.
Green paper
tax haven
self-service
downswing
18. Patterns of relationships between different groups of society.
blight
new capital investment
social structure
questionable payments
19. Goods bought and used by companies - such as machines. Also known as capital goods.
aggregate demand
outsourcing
producer goods
TUC
20. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
greenbelt
Green paper
unemployment rate
diversity
21. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
allocation
store
inventory shrinkage
employee
22. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.
core products
sustainability
inventory turnover
dead stock
23. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
stockroom
FMCG
RPI
NAFTA
24. A retailer that concentrates on selling one particular type of good.
trade surplus
foreign exchange
duty
speciality store
25. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.
myopic perspective
allocation
bulk discount
diversity
26. The skills and knowledge needed to start and run a company.
consumer non-durables
entrepreneurship
store
till
27. The rare situation when budget spending is smaller than revenue.
budget surplus
sustainability
store loyalty
shareholder value
28. Products that can hold their own against rival products in terms of price - features or quality.
competitive
PPP
diversity
impulse purchase
29. Announcing that a product is for sale - trying to persuade customers to buy a product or service.
business sector
advertising
urban
till
30. A period where there is little economic activity - high unemployment and much poverty.
not-for-profit
CBD
loyalty card
depression
31. Giving people the freedom to decide things and take responsibility for themselves.
market skimming
empowerment
CBI
sustainable
32. The hub of retailing in a city - where the most office buildings and retail stores are.
customer
FDI
inventory turnover
central business district
33. A period of economic expansion.
shareholder
upswing
trade deficit
open source
34. Economic policies designed to support business and help it expand.
trademark
processing
constructive economic policies
blight
35. Central Business District - the largest retail and office area of a city - also known as downtown
vending machine
RPI
CBD
CBI
36. 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
employee
automatic reordering system
empowerment
37. The purchase of a financial product or other item of value with the hope that it will become more valuable.
consumer durables
investment
product differentiation
reduced
38. Regular fluctuations in overall economic activity over time.
GDP
cooperative
target market
business cycle
39. Focusing on a more specific line of products or services in comparison to competitors.
Green paper
allocation
inventory shrinkage
niche strategy
40. 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
restrictive economic policies
inventory shrinkage
otc drug
41. The percentage of people who do not have a job.
vending machine
real GDP
unemployment rate
counterfeit
42. Obstacles to international trade other than tariffs.
subsidy
inventory
otc drug
non-tariff barriers
43. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
NGOs
dealer brands
loyalty card
negative equity
44. Shows the flows of money into and out of a country plus transfer payments.
shopping centre
product differentiation
balance of payments
shareholder
45. A period of shrinking economic activity.
downswing
compliance
bulk discount
FMCG
46. Hiring an external company to perform tasks for a company and reduce costs.
trade surplus
balance of payments
market equilibrium
outsourcing
47. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
new capital investment
tax haven
advocacy
stock turnover
48. An economic sanction that forbids the import of a specific product or all products from a specific country.
blight
leasehold
embargo
stock turnover
49. The rate of interest at which US banks lend money to their best corporate customers.
advocacy
grease payments
non-tariff barriers
prime rate
50. Consumer goods that have a short life span - e.g. food or paper tissues.
allocation
consumer non-durables
consumer goods
protectionism