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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. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.
core products
FDI
non-tariff barriers
household sector
2. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
aggregate demand
TUC
market skimming
copyright
3. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.
counterfeit
outsourcing
EPOS
fiscal policies
4. An area of land which has never been built on.
market equilibrium
greenfield site
bulk discount
stock turnover
5. A reduction in price offered when buying an item in higher quantities.
product differentiation
consumer durables
bulk discount
mission statement
6. An enormous planned shopping centre with hundreds of stores under one roof.
greenfield site
inventory shrinkage
speciality store
megamall
7. 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.
Maastricht Treaty
franchising
over the counter drug
impulse purchase
8. A period of economic expansion.
questionable payments
vending machine
upswing
statutory
9. The percentage of a household's income that is saved.
producer goods
AFL/CIO
savings rate
consumer durables
10. The right to live in a home on a long-term tenancy.
copycat
leasehold
grease payments
depth of assortment
11. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
reduced
NIMBY
negotiation
allocation
12. A period of decline in economic activity.
in-stock
otc drug
mission statement
recession
13. Hiring an external company to perform tasks for a company and reduce costs.
inventory shrinkage
AAA
outsourcing
megamall
14. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
questionable payments
consumer goods
convenience store
fiscal policies
15. When a small number of companies control a certain market.
oligopoly
fake
Fed
currency hedging
16. The variety of goods that a retailer sells.
public-private partnership
markup
depth of assortment
business sector
17. Obstacles to international trade based on customs tariffs.
balance of trade
intellectual property
tariff barriers
trademark
18. Confederation of British Industry
PPP
inventory shrinkage
CBI
self-service
19. Focusing on a more specific line of products or services in comparison to competitors.
producer goods
niche strategy
downswing
investment
20. Goods bought for private use.
producer goods
dealer brands
OECD
consumer goods
21. A test or way of measuring something.
markdown
checkout
open-market operations
assessment
22. Regulations that mean permission from the government is required before certain items can be exported.
central business district
Nominal GDP
export controls
shelf warmer
23. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).
OECD
niche strategy
intellectual property
quota
24. How companies try to show their products as being different from those of their rivals.
processing
not-for-profit
product differentiation
CBD
25. A company's main products - e.g. Opel's core product is cars.
tax haven
business cycle
capital spending
core products
26. The money a state earns via taxation.
sustainability
tax revenue
recession
target market
27. System in which good or services are exchanged for other goods or services rather than cash.
market equilibrium
barter
NAFTA
household sector
28. Announcing that a product is for sale - trying to persuade customers to buy a product or service.
advertising
consumer goods
CBD
trade surplus
29. A small owner-operated store serving a local community.
quota
capital spending
mom-and-pop store
deficit spending
30. Process of communicating back and forth until an agreement has been reached.
otc drug
factors of production
reduced
negotiation
31. When the amount borrowed to pay for a home is now more than the property is actually worth.
negative equity
poverty line
sustainability
tariff barriers
32. The amount of money a person has left after paying taxes and buying necessities.
discretionary income
monopoly
budget deficit
statutory
33. A storeroom where items which cannot be put on display are stored.
benchmarking
Maastricht Treaty
stockroom
CPI
34. 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.
in-stock
empowerment
fiscal policies
tax revenue
35. A retail outlet.
supermarket
store
FMCG
embargo
36. Machine for processing sales - taking payments - giving change. Also know as a cash register.
variety store
till
copyright
societal
37. Goods bought and used by companies - such as machines. Also known as capital goods.
export controls
sustainability
EDI
producer goods
38. The violation of a law or right.
recession
societal
negative equity
infringement
39. The percentage of people who do not have a job.
Fed
standard of living
CBI
unemployment rate
40. The total sum of goods and services in demand.
capital spending
social structure
aggregate demand
factors of production
41. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
dealer brands
freehold
franchising
convenience store
42. An owner of shares or stocks in a company.
mortgage
leasehold
shareholder
AFL/CIO
43. A tax imposed on imports by the customs authority of a country.
duty
recession
blight
speciality store
44. A retailer that concentrates on selling one particular type of good.
OECD
speciality store
Green paper
restrictive economic policies
45. A range of many things or people that are very different from each other.
entrepreneurship
diversity
budget deficit
till
46. The total sum of a nation's outstanding debt.
inventory
national debt
investment
myopic perspective
47. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
boom
budget surplus
consumer goods
RPI
48. Items sold in a store during a certain period measuring in number of units or value.
stock turnover
consumer non-durables
markdown
Fed
49. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
NGOs
over the counter drug
market skimming
convenience store
50. American Federation of Labour / Association of Industrial Organizations
cooperative
recession
AFL/CIO
myopic perspective