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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. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
current account
investment
tariff barriers
GDP
2. The number of times during a period a business sells its inventory and replaces it.
unemployment rate
inventory turnover
customer
compliance
3. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
competitive
Nominal GDP
supermarket
shelf warmer
4. Confederation of British Industry
retail outlet
mission statement
unemployment rate
CBI
5. The total sum of a nation's outstanding debt.
intellectual property
national debt
new capital investment
OECD
6. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
EDI
impulse purchase
diversity
mortgage
7. Relating to cities or built up areas - not the countryside.
entrepreneurship
otc drug
NGOs
urban
8. When a private company provides a public service in agreement with a government or council.
public-private partnership
White paper
non-tariff barriers
freehold
9. The process of turning raw materials and parts into finished products.
manufacturing
inventory turnover
inventory
niche strategy
10. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
blight
CPI
public-private partnership
target market
11. Announcing that a product is for sale - trying to persuade customers to buy a product or service.
social structure
protectionism
trade surplus
advertising
12. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.
debit-card system
stakeholder
not-for-profit
CBI
13. A consultation document that sets out the government's position on a certain issue.
greenfield site
Green paper
AFL/CIO
mission statement
14. When a price has been cut.
quota
reduced
duty
EPOS
15. Statement of policy issued by a government which may form the basis of a future law.
franchising
market equilibrium
self-service
White paper
16. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
producer goods
downswing
real GDP
debit-card system
17. A period of economic expansion.
sustainable development
till
upswing
recession
18. An owner of shares or stocks in a company.
shareholder
not-for-profit
consumer non-durables
shareholder value
19. Something that is required by law.
statutory
poverty line
consumer durables
sanctions
20. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
RPI
empowerment
market equilibrium
EDI
21. The system of organizations involved in moving a product from manufacturer to customer.
supply chain
self-service
fake
investment
22. A reduction in the selling price of an item in order to increase sales.
leasehold
statutory
markdown
prime rate
23. Obstacles to international trade other than tariffs.
freehold
non-tariff barriers
national debt
volunteer
24. Patterns of relationships between different groups of society.
chain
not-for-profit
NIMBY
social structure
25. The hub of retailing in a city - where the most office buildings and retail stores are.
discretionary income
questionable payments
central business district
checkout
26. A large retail unit selling a wide variety of goods in separate departments.
counterfeit
product differentiation
department store
franchising
27. Meeting accepted guidelines or laws.
megamall
checkout
not-for-profit
compliance
28. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.
customs
barter
freehold
compliance
29. Regulations that mean permission from the government is required before certain items can be exported.
export controls
depression
blight
societal
30. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
OECD
discretionary income
FMCG
megamall
31. The rare situation when budget spending is smaller than revenue.
over the counter drug
foreign exchange
WTO
budget surplus
32. Regular fluctuations in overall economic activity over time.
social stratification
sustainability
business cycle
grease payments
33. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
balance of trade
household sector
urban
chain
34. A range of many things or people that are very different from each other.
impulse purchase
upswing
diversity
counterfeit
35. Usually software where the source code is made freely available for all users to change as they see fit.
business sector
recession
open source
central business district
36. A government-imposed tax on imports.
myopic perspective
over the counter drug
customs
tariff
37. 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.
savings rate
boom
vending machine
monopoly
38. Volunteer organization for young - disadvantaged Americans.
Americorps
household sector
GDP
producer goods
39. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
greenbelt
direct selling
monetary policies
department store
40. A self-service food store with grocery - meat and produce departments.
supermarket
business cycle
capital spending
negative equity
41. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
counterfeit
convenience store
in-stock
budget surplus
42. Value of the entire company as expressed by its market capitalization.
niche strategy
debit-card system
shareholder value
national debt
43. When a company reduces their output during a recession they have excess or idle capacity.
Americorps
idle capacity
FDI
investment
44. Consumer goods that have a long life span - e.g. furniture.
shareholder
copycat
consumer durables
automatic reordering system
45. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
in-stock
loyalty card
capital spending
recession
46. A collection of shops under one roof with a shared entrance and food area.
leasehold
shopping centre
blight
variety store
47. An imitation of a product made with the intent to defraud a customer.
counterfeit
supplier
AFL/CIO
social structure
48. The variety of goods that a retailer sells.
open source
depth of assortment
social structure
national debt
49. A storeroom where items which cannot be put on display are stored.
stockroom
Green paper
deficit spending
markup
50. An item which is no longer produced by a manufacturer or sold by a retailer.
store loyalty
public-private partnership
sustainable development
discontinued