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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.
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. Business wholly owned by its employees with the emphasis on group decision making.
franchising
prime rate
BPI
cooperative
2. 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.
sanctions
business sector
NIMBY
capital spending
3. Financial aid by the government to an individual or group to support an activity that is in the public interest.
business sector
subsidy
diversity
depth of assortment
4. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
monopoly
shareholder
diversity
standard of living
5. An owner of shares or stocks in a company.
product differentiation
supplier
shareholder
factors of production
6. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
downswing
duty
household sector
CBI
7. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
store
tax revenue
grease payments
loyalty card
8. Consumer goods that have a short life span - e.g. food or paper tissues.
inventory
poverty line
consumer non-durables
infringement
9. 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.
BPI
mortgage
store
balance of payments
10. Announcing that a product is for sale - trying to persuade customers to buy a product or service.
advertising
trademark
product differentiation
protectionism
11. A period of decline in economic activity.
quota
manufacturing
leasehold
recession
12. Regular fluctuations in overall economic activity over time.
target market
diversity
idle capacity
business cycle
13. A collection of shops under one roof with a shared entrance and food area.
shopping centre
outsourcing
franchising
NIMBY
14. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
competitive
producer goods
chain
NGOs
15. A shop or store.
CBI
retail outlet
dead stock
balance of payments
16. The system of organizations involved in moving a product from manufacturer to customer.
supply chain
intellectual property
open-market operations
blight
17. A period of economic expansion.
Green paper
myopic perspective
upswing
advertising
18. 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.
speciality store
fiscal policies
dead stock
duty
19. Products that can hold their own against rival products in terms of price - features or quality.
volunteer
competitive
checkout
balance of trade
20. Consumer goods that have a long life span - e.g. furniture.
consumer durables
tax revenue
loyalty card
blight
21. The skills and knowledge needed to start and run a company.
economic growth
grease payments
entrepreneurship
beneficiary
22. The resources used to produce goods and services - including land - labour - business and capital.
factors of production
store
barter
dead stock
23. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?
PPP
infringement
RPI
WTO
24. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.
stock turnover
niche strategy
inventory
entrepreneurship
25. Usually software where the source code is made freely available for all users to change as they see fit.
inventory turnover
statutory
central business district
open source
26. Hiring an external company to perform tasks for a company and reduce costs.
prime rate
national debt
tax revenue
outsourcing
27. When the imports into a country exceed the exports going out of a country.
FMCG
trade deficit
urban
employee
28. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.
barter
investment
myopic perspective
mission statement
29. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
BPI
statutory
depth of assortment
market skimming
30. The balance between interest rates and the demand for money.
over the counter drug
market equilibrium
Maastricht Treaty
assessment
31. A period of shrinking economic activity.
FDI
downswing
automatic reordering system
economic growth
32. A retailer that concentrates on selling one particular type of good.
shareholder
FDI
speciality store
processing
33. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
dealer brands
shopping centre
business sector
customs
34. The Federal Reserve - the US central banking system.
currency hedging
Fed
market equilibrium
CBI
35. Connected with society and the way it is organized.
market skimming
societal
negotiation
franchising
36. Someone who does something without being paid for it - e.g. working for a charity.
volunteer
debit-card system
greenbelt
negative equity
37. The different layers within a society e.g. class - income - education.
consumer goods
social stratification
department store
over the counter drug
38. When a customer regularly uses a store they know - like and trust.
store loyalty
consumer non-durables
FMCG
supply chain
39. Meeting accepted guidelines or laws.
compliance
public-private partnership
till
processing
40. Buying currency options that fix exchange rates for a period of time.
duty
balance of payments
currency hedging
business cycle
41. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
budget surplus
Nominal GDP
questionable payments
real GDP
42. Something which is a copy or imitation.
mom-and-pop store
fake
NAFTA
non-tariff barriers
43. Value of the entire company as expressed by its market capitalization.
stock turnover
shareholder value
PPP
benchmarking
44. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
NIMBY
RPI
Maastricht Treaty
real GDP
45. The sum of money invested in new or additional equipment.
checkout
open-market operations
new capital investment
White paper
46. Imitating another company's ideas rather than developing your own.
OECD
manufacturing
discontinued
copycat
47. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
boom
manufacturing
tax haven
standard of living
48. Payments made like a bribe to encourage an official to allow something or get something done.
currency hedging
blight
myopic perspective
grease payments
49. Items which a shop has and are available to buy.
competitive
aggregate demand
in-stock
leasehold
50. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.
social structure
outsourcing
store
stakeholder
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