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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. When governments try to stabilize economic activities by funding major projects from budget deficits.
deficit spending
producer goods
oligopoly
restrictive economic policies
2. Hiring an external company to perform tasks for a company and reduce costs.
recession
customs
discretionary income
outsourcing
3. Something that is bought without being planned for.
width of assortment
impulse purchase
otc drug
Nominal GDP
4. A person or organization which receives money from a charity.
NGOs
EDI
beneficiary
debit-card system
5. Giving people the freedom to decide things and take responsibility for themselves.
empowerment
trademark
consumer non-durables
urban
6. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
BPI
EDI
discontinued
stockroom
7. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
convenience store
shopping centre
tax revenue
societal
8. The percentage of a household's income that is saved.
FDI
PPP
savings rate
governance
9. 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
market equilibrium
AFL/CIO
discontinued
10. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
Nominal GDP
greenfield site
trademark
fake
11. The percentage of people who do not have a job.
copycat
embargo
idle capacity
unemployment rate
12. Someone who does something without being paid for it - e.g. working for a charity.
monopoly
boom
volunteer
otc drug
13. Imitating another company's ideas rather than developing your own.
greenbelt
shopping centre
tax haven
copycat
14. Obstacles to international trade other than tariffs.
markdown
sustainable development
inventory management
non-tariff barriers
15. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
currency hedging
factors of production
NIMBY
consumer durables
16. A card payment system where the cost of goods or services is immediately removed from a bank account.
width of assortment
debit-card system
inventory management
inventory turnover
17. The system of organizations involved in moving a product from manufacturer to customer.
supply chain
consumer non-durables
social stratification
tariff barriers
18. Usually software where the source code is made freely available for all users to change as they see fit.
downswing
open source
advertising
savings rate
19. Focusing on a more specific line of products or services in comparison to competitors.
BPI
NGOs
megamall
niche strategy
20. The total sum of goods and services in demand.
allocation
aggregate demand
tax haven
capital spending
21. Refers to the number of distinct goods or services a retailer offers.
NGOs
markup
width of assortment
NAFTA
22. Agreement that provided the basis for the formation of the European Union.
empowerment
sanctions
advertising
Maastricht Treaty
23. Multiple retail units under common ownership.
dealer brands
chain
infringement
market penetration
24. A shop or store.
self-service
AAA
retail outlet
idle capacity
25. Development which can be done without harming the environment or natural resources.
AFL/CIO
sustainable development
markup
shareholder value
26. A collection of shops under one roof with a shared entrance and food area.
shopping centre
open source
budget surplus
statutory
27. 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.
AFL/CIO
capital spending
subsidy
household sector
28. Buying currency options that fix exchange rates for a period of time.
currency hedging
outsourcing
open source
barter
29. How companies try to show their products as being different from those of their rivals.
product differentiation
tariff
social stratification
employee
30. Regulations that mean permission from the government is required before certain items can be exported.
export controls
boom
Nominal GDP
business cycle
31. A person or company from whom goods or services are bought.
supplier
prime rate
intellectual property
trademark
32. The total amount of money in circulation in a country.
budget surplus
infringement
investment
money supply
33. Process of communicating back and forth until an agreement has been reached.
blight
negotiation
speciality store
shareholder
34. The process of turning raw materials and parts into finished products.
dead stock
CPI
speciality store
manufacturing
35. The money a state earns via taxation.
freehold
quota
in-stock
tax revenue
36. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
shareholder value
central business district
assessment
greenbelt
37. When a company reduces their output during a recession they have excess or idle capacity.
downswing
idle capacity
CBI
real GDP
38. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
advertising
Nominal GDP
trademark
questionable payments
39. When budget spending exceeds revenue.
budget deficit
bulk discount
TUC
sanctions
40. A voluntary sector or charity sector organization.
copycat
balance of trade
not-for-profit
budget surplus
41. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
markdown
central business district
FMCG
supply chain
42. A range of many things or people that are very different from each other.
new capital investment
diversity
Maastricht Treaty
AFL/CIO
43. A period of shrinking economic activity.
vending machine
downswing
niche strategy
public-private partnership
44. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
shareholder
current account
otc drug
subsidy
45. The rare situation when budget spending is smaller than revenue.
budget surplus
subsidy
dealer brands
CPI
46. 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.
dealer brands
depth of assortment
variety store
franchising
47. The checking - ordering & processing of stock levels.
product differentiation
stock turnover
PPP
inventory management
48. Patterns of relationships between different groups of society.
capital spending
embargo
social structure
supplier
49. Statement of policy issued by a government which may form the basis of a future law.
White paper
central business district
customs
target market
50. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
WTO
direct selling
real GDP
negotiation