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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. The rare situation when budget spending is smaller than revenue.
OECD
tax revenue
public-private partnership
budget surplus
2. The percentage of a household's income that is saved.
depth of assortment
savings rate
monetary policies
duty
3. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
franchising
inventory shrinkage
Americorps
freehold
4. The difference between merchandise costs and retail selling price.
sanctions
shelf warmer
markup
otc drug
5. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
niche strategy
shelf warmer
economic growth
myopic perspective
6. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
volunteer
customs
central business district
AAA
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.
stakeholder
entrepreneurship
current account
niche strategy
8. Obstacles to international trade other than tariffs.
non-tariff barriers
AAA
supply chain
business sector
9. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
governance
megamall
monopoly
constructive economic policies
10. Focusing on a more specific line of products or services in comparison to competitors.
convenience store
oligopoly
mission statement
niche strategy
11. Volunteer organization for young - disadvantaged Americans.
freehold
Americorps
department store
discontinued
12. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.
economic growth
sustainable
public-private partnership
oligopoly
13. A person who works for someone else in exchange for payment.
franchising
manufacturing
employee
fiscal policies
14. The right to live in a home on a long-term tenancy.
copyright
leasehold
market equilibrium
stockroom
15. The money a state earns via taxation.
tax revenue
self-service
customs
cooperative
16. 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.
oligopoly
franchising
mom-and-pop store
department store
17. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
EDI
economic growth
megamall
Maastricht Treaty
18. Consumer goods that have a short life span - e.g. food or paper tissues.
consumer non-durables
CPI
markdown
fake
19. Value of the entire company as expressed by its market capitalization.
negotiation
inventory
shareholder value
mom-and-pop store
20. 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.
vending machine
dealer brands
new capital investment
advertising
21. Government policies to cool down an economy and prevent inflation during boom periods.
entrepreneurship
leasehold
depth of assortment
restrictive economic policies
22. A period of economic expansion.
advocacy
department store
competitive
upswing
23. Distribution of anything for use - including time or money.
OECD
infringement
sustainable
allocation
24. When the imports into a country exceed the exports going out of a country.
trade deficit
core products
inventory turnover
CBD
25. A person or company from whom goods or services are bought.
budget surplus
supplier
AFL/CIO
empowerment
26. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
CPI
till
NIMBY
copyright
27. When a small number of companies control a certain market.
statutory
target market
inventory shrinkage
oligopoly
28. The legal right of the owner of a work over its control and distribution.
copyright
compliance
impulse purchase
leasehold
29. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.
inventory shrinkage
NIMBY
tariff
myopic perspective
30. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
volunteer
allocation
sustainable development
protectionism
31. Something which is a copy or imitation.
fake
restrictive economic policies
trade deficit
tariff barriers
32. The area of the economy that produces goods and provides services.
business sector
entrepreneurship
foreign exchange
CBD
33. A shop or store.
retail outlet
loyalty card
business cycle
savings rate
34. Regular fluctuations in overall economic activity over time.
trade deficit
aggregate demand
business cycle
depression
35. The violation of a law or right.
fiscal policies
CBD
non-tariff barriers
infringement
36. The total sum of goods and services in demand.
aggregate demand
societal
advertising
NIMBY
37. A retail store that handles a wide variety of inexpensive and cheaply priced goods.
grease payments
balance of trade
variety store
stakeholder
38. The way in which a company is controlled.
currency hedging
market equilibrium
width of assortment
governance
39. The purchase of a financial product or other item of value with the hope that it will become more valuable.
sanctions
investment
aggregate demand
FDI
40. Buying Power Index - a measure of a geographic area's market characteristics in terms of percentage of the US population - percentage of US retail sales and percentage of US effective buying income.
loyalty card
negative equity
BPI
dead stock
41. A country's exports minus its imports.
aggregate demand
balance of trade
benchmarking
tax haven
42. The Federal Reserve - the US central banking system.
reduced
non-tariff barriers
monetary policies
Fed
43. When the exports a country makes exceed the imports.
oligopoly
trade surplus
tax revenue
automatic reordering system
44. The process of turning raw materials and parts into finished products.
manufacturing
checkout
RPI
direct selling
45. Refers to the number of distinct goods or services a retailer offers.
width of assortment
deficit spending
inventory shrinkage
supply chain
46. Economic policies that use money e.g. interest rates or money supply as the major instruments.
monetary policies
mission statement
customs
consumer non-durables
47. 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
protectionism
boom
Fed
48. Someone who does something without being paid for it - e.g. working for a charity.
CPI
CBI
volunteer
store
49. A reduction in price offered when buying an item in higher quantities.
bulk discount
in-stock
business cycle
outsourcing
50. The rate of interest at which US banks lend money to their best corporate customers.
stockroom
diversity
prime rate
compliance