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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. A large - long-term loan taken out to pay for a house.
market skimming
open source
fiscal policies
mortgage
2. The percentage of a household's income that is saved.
mortgage
freehold
savings rate
processing
3. System in which good or services are exchanged for other goods or services rather than cash.
barter
questionable payments
dealer brands
EDI
4. Machine for processing sales - taking payments - giving change. Also know as a cash register.
embargo
retail outlet
till
tariff
5. Exclusive ownership of a property for an indefinite period of time.
freehold
market equilibrium
store
recession
6. Confederation of British Industry
CBI
budget surplus
prime rate
current account
7. The total amount of money in circulation in a country.
business sector
sanctions
money supply
manufacturing
8. A period where there is little economic activity - high unemployment and much poverty.
depression
prime rate
downswing
myopic perspective
9. Items which a shop has and are available to buy.
otc drug
width of assortment
megamall
in-stock
10. The number of times during a period a business sells its inventory and replaces it.
myopic perspective
poverty line
inventory turnover
inventory shrinkage
11. 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.
NAFTA
current account
stock turnover
negotiation
12. Consumer goods that have a short life span - e.g. food or paper tissues.
capital spending
consumer non-durables
NGOs
loyalty card
13. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
copycat
market penetration
TUC
loyalty card
14. Trade Union Congress.
market equilibrium
mission statement
Nominal GDP
TUC
15. An extremely adverse environmental condition.
blight
counterfeit
FDI
diversity
16. Meeting accepted guidelines or laws.
bulk discount
supplier
compliance
stockroom
17. When a customer regularly uses a store they know - like and trust.
foreign exchange
oligopoly
NGOs
store loyalty
18. Something that is required by law.
investment
statutory
self-service
currency hedging
19. 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.
mission statement
protectionism
upswing
fiscal policies
20. The difference between merchandise costs and retail selling price.
Nominal GDP
markup
entrepreneurship
business cycle
21. Goods bought and used by companies - such as machines. Also known as capital goods.
producer goods
oligopoly
supermarket
vending machine
22. The Federal Reserve - the US central banking system.
Fed
currency hedging
discretionary income
retail outlet
23. Items sold in a store during a certain period measuring in number of units or value.
market skimming
social structure
foreign exchange
stock turnover
24. A shop or store.
over the counter drug
market skimming
retail outlet
niche strategy
25. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
producer goods
convenience store
aggregate demand
investment
26. A collection of shops under one roof with a shared entrance and food area.
shopping centre
competitive
prime rate
discontinued
27. A way of measuring performance by comparing a company to similar ones.
urban
monopoly
benchmarking
otc drug
28. The amount of wealth - money - comfort etc that a particular person - group or society has.
embargo
chain
dealer brands
standard of living
29. Shows the flows of money into and out of a country plus transfer payments.
mom-and-pop store
market equilibrium
balance of payments
CBD
30. The sum of money invested in new or additional equipment.
leasehold
OECD
central business district
new capital investment
31. The rate of interest at which US banks lend money to their best corporate customers.
prime rate
in-stock
employee
chain
32. Agreement that provided the basis for the formation of the European Union.
stock turnover
sustainability
intellectual property
Maastricht Treaty
33. When the amount borrowed to pay for a home is now more than the property is actually worth.
aggregate demand
Fed
discretionary income
negative equity
34. The different layers within a society e.g. class - income - education.
trade surplus
social stratification
self-service
real GDP
35. The area of the economy that produces goods and provides services.
embargo
mom-and-pop store
business sector
direct selling
36. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.
WTO
sustainability
OECD
export controls
37. Sets of specific restraints imposed by governments on international trade.
embargo
sanctions
stock turnover
competitive
38. When a small number of companies control a certain market.
oligopoly
depth of assortment
mission statement
sanctions
39. The legal right of the owner of a work over its control and distribution.
copyright
fake
stockroom
market penetration
40. An owner of shares or stocks in a company.
shareholder value
shareholder
protectionism
Maastricht Treaty
41. A government-imposed tax on imports.
mom-and-pop store
markup
outsourcing
tariff
42. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
real GDP
greenfield site
FMCG
competitive
43. A retail outlet.
cooperative
investment
store
discontinued
44. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.
stakeholder
retail outlet
negative equity
cooperative
45. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
monopoly
subsidy
stock turnover
stockroom
46. Volunteer organization for young - disadvantaged Americans.
Americorps
convenience store
NGOs
budget surplus
47. The support of a cause.
copyright
myopic perspective
advocacy
protectionism
48. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
greenbelt
negotiation
foreign exchange
AFL/CIO
49. Payments made like a bribe to encourage an official to allow something or get something done.
consumer goods
protectionism
money supply
grease payments
50. A person or company from whom goods or services are bought.
GDP
FMCG
supplier
inventory