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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. 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.
statutory
capital spending
restrictive economic policies
FDI
2. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
diversity
dealer brands
monetary policies
budget deficit
3. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
GDP
negotiation
budget deficit
Fed
4. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
trade surplus
compliance
Americorps
FMCG
5. 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
foreign exchange
dead stock
prime rate
6. Consumer goods that have a long life span - e.g. furniture.
consumer durables
CBI
poverty line
trade deficit
7. A test or way of measuring something.
tax revenue
EDI
assessment
protectionism
8. A period of decline in economic activity.
upswing
franchising
width of assortment
recession
9. How companies try to show their products as being different from those of their rivals.
recession
markdown
product differentiation
manufacturing
10. The different layers within a society e.g. class - income - education.
deficit spending
depression
social stratification
in-stock
11. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
household sector
intellectual property
questionable payments
sustainability
12. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.
leasehold
economic growth
shareholder value
investment
13. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
processing
shelf warmer
depression
economic growth
14. Confederation of British Industry
foreign exchange
social structure
factors of production
CBI
15. A reduction in the selling price of an item in order to increase sales.
markdown
discontinued
customer
non-tariff barriers
16. A shop or store.
intellectual property
CBD
household sector
retail outlet
17. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.
infringement
budget surplus
business cycle
myopic perspective
18. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
market skimming
balance of trade
mom-and-pop store
freehold
19. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.
competitive
mission statement
EPOS
NAFTA
20. The variety of goods that a retailer sells.
foreign exchange
depth of assortment
TUC
markup
21. Relating to cities or built up areas - not the countryside.
urban
core products
OECD
retail outlet
22. An area of land which has never been built on.
trade surplus
greenfield site
customs
chain
23. Products that can hold their own against rival products in terms of price - features or quality.
competitive
inventory shrinkage
money supply
savings rate
24. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
supplier
new capital investment
subsidy
inventory shrinkage
25. 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.
idle capacity
vending machine
grease payments
infringement
26. A consultation document that sets out the government's position on a certain issue.
customer
store loyalty
shareholder value
Green paper
27. 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.
social structure
current account
width of assortment
franchising
28. A large retail unit selling a wide variety of goods in separate departments.
EDI
department store
consumer goods
tax haven
29. Goods bought and used by companies - such as machines. Also known as capital goods.
producer goods
restrictive economic policies
competitive
employee
30. When governments try to stabilize economic activities by funding major projects from budget deficits.
boom
FDI
deficit spending
sustainable
31. A retailer that concentrates on selling one particular type of good.
speciality store
Nominal GDP
national debt
customs
32. The Federal Reserve - the US central banking system.
PPP
Green paper
negotiation
Fed
33. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
not-for-profit
convenience store
copyright
megamall
34. A financial instrument that facilitates payment from one currency to another.
NAFTA
BPI
non-tariff barriers
foreign exchange
35. Organization for Economic Cooperation and Development
debit-card system
discontinued
PPP
OECD
36. An economic sanction that forbids the import of a specific product or all products from a specific country.
embargo
Americorps
Nominal GDP
diversity
37. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.
tariff
FDI
capital spending
NAFTA
38. Regular fluctuations in overall economic activity over time.
business cycle
checkout
processing
public-private partnership
39. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
NGOs
Fed
capital spending
franchising
40. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.
money supply
stakeholder
recession
inventory shrinkage
41. A large - long-term loan taken out to pay for a house.
tax revenue
mortgage
statutory
EPOS
42. A card payment system where the cost of goods or services is immediately removed from a bank account.
debit-card system
supermarket
depression
trade deficit
43. The difference between merchandise costs and retail selling price.
budget surplus
markup
AFL/CIO
subsidy
44. A collection of shops under one roof with a shared entrance and food area.
quota
fiscal policies
shopping centre
shareholder
45. Giving people the freedom to decide things and take responsibility for themselves.
budget deficit
PPP
budget surplus
empowerment
46. A period of economic expansion.
GDP
benchmarking
direct selling
upswing
47. A storeroom where items which cannot be put on display are stored.
protectionism
sanctions
width of assortment
stockroom
48. When the exports a country makes exceed the imports.
trade surplus
impulse purchase
trade deficit
open source
49. Obstacles to international trade based on customs tariffs.
counterfeit
FMCG
tariff barriers
social structure
50. Something which is a copy or imitation.
fake
boom
not-for-profit
Fed
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