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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. Statement of policy issued by a government which may form the basis of a future law.
protectionism
White paper
governance
automatic reordering system
2. The right to live in a home on a long-term tenancy.
sanctions
entrepreneurship
social structure
leasehold
3. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
trade deficit
consumer goods
subsidy
EDI
4. A company's main products - e.g. Opel's core product is cars.
core products
vending machine
EDI
freehold
5. A shop or store.
Maastricht Treaty
retail outlet
CBI
market penetration
6. The total sum of a nation's outstanding debt.
national debt
niche strategy
checkout
market skimming
7. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.
statutory
FDI
intellectual property
store
8. Hiring an external company to perform tasks for a company and reduce costs.
factors of production
aggregate demand
outsourcing
White paper
9. Sets of specific restraints imposed by governments on international trade.
sanctions
factors of production
direct selling
mortgage
10. An imitation of a product made with the intent to defraud a customer.
aggregate demand
counterfeit
statutory
tariff barriers
11. The amount of wealth - money - comfort etc that a particular person - group or society has.
freehold
shareholder
Nominal GDP
standard of living
12. A retail outlet.
self-service
consumer durables
budget deficit
store
13. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
intellectual property
advertising
FMCG
foreign exchange
14. A medicine which is available without first getting a prescription from a doctor.
new capital investment
balance of trade
Maastricht Treaty
over the counter drug
15. 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.
social structure
TUC
vending machine
sustainable development
16. Usually software where the source code is made freely available for all users to change as they see fit.
mortgage
balance of payments
open source
intellectual property
17. A range of many things or people that are very different from each other.
otc drug
Nominal GDP
downswing
diversity
18. Something which is a copy or imitation.
markdown
freehold
social structure
fake
19. 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.
TUC
inventory shrinkage
franchising
cooperative
20. Obstacles to international trade based on customs tariffs.
tariff barriers
constructive economic policies
inventory management
upswing
21. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).
new capital investment
sanctions
quota
current account
22. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
PPP
monetary policies
monopoly
prime rate
23. A tax imposed on imports by the customs authority of a country.
poverty line
tax revenue
duty
retail outlet
24. The Federal Reserve - the US central banking system.
Fed
aggregate demand
constructive economic policies
chain
25. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
trade deficit
megamall
Nominal GDP
NIMBY
26. Obstacles to international trade other than tariffs.
central business district
quota
non-tariff barriers
bulk discount
27. An owner of shares or stocks in a company.
WTO
franchising
shareholder
trade deficit
28. Payments made like a bribe to encourage an official to allow something or get something done.
grease payments
stockroom
myopic perspective
monetary policies
29. A minimum income level below which people are officially poor.
Fed
competitive
FMCG
poverty line
30. A small owner-operated store serving a local community.
boom
mom-and-pop store
employee
diversity
31. An item which is no longer produced by a manufacturer or sold by a retailer.
processing
business sector
discontinued
EPOS
32. Items in a store which have not sold for a longer period of time.
dead stock
benchmarking
supplier
oligopoly
33. Imitating another company's ideas rather than developing your own.
foreign exchange
market equilibrium
supermarket
copycat
34. Giving people the freedom to decide things and take responsibility for themselves.
empowerment
social stratification
till
non-tariff barriers
35. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
CPI
market penetration
recession
social stratification
36. Meeting accepted guidelines or laws.
compliance
currency hedging
manufacturing
NGOs
37. A way of measuring performance by comparing a company to similar ones.
shareholder value
market equilibrium
standard of living
benchmarking
38. When a company reduces their output during a recession they have excess or idle capacity.
unemployment rate
household sector
business cycle
idle capacity
39. Regular fluctuations in overall economic activity over time.
business cycle
recession
dealer brands
standard of living
40. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
questionable payments
loyalty card
vending machine
RPI
41. The buying and selling of government securities by a central bank in order to control the money supply.
open-market operations
niche strategy
market penetration
factors of production
42. The rare situation when budget spending is smaller than revenue.
producer goods
budget surplus
economic growth
idle capacity
43. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
greenfield site
protectionism
savings rate
megamall
44. Patterns of relationships between different groups of society.
real GDP
customs
width of assortment
social structure
45. A period of decline in economic activity.
recession
savings rate
markdown
debit-card system
46. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.
product differentiation
NAFTA
negotiation
mission statement
47. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.
sustainability
balance of payments
White paper
trade deficit
48. Government policies to cool down an economy and prevent inflation during boom periods.
new capital investment
sustainable development
shareholder
restrictive economic policies
49. When governments try to stabilize economic activities by funding major projects from budget deficits.
variety store
upswing
deficit spending
governance
50. The violation of a law or right.
infringement
monetary policies
dead stock
social stratification