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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.
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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 company's main products - e.g. Opel's core product is cars.
core products
budget deficit
diversity
advocacy
2. Agreement that provided the basis for the formation of the European Union.
over the counter drug
Maastricht Treaty
export controls
negotiation
3. When governments try to stabilize economic activities by funding major projects from budget deficits.
franchising
downswing
deficit spending
blight
4. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
monopoly
chain
market penetration
Nominal GDP
5. Government policies to cool down an economy and prevent inflation during boom periods.
restrictive economic policies
shopping centre
blight
AAA
6. Involving the use of natural resources and energy in a way that does not harm the environment.
sustainable
boom
standard of living
blight
7. Giving people the freedom to decide things and take responsibility for themselves.
empowerment
FMCG
constructive economic policies
speciality store
8. When a small number of companies control a certain market.
oligopoly
copycat
social structure
statutory
9. 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.
trade deficit
myopic perspective
volunteer
customs
10. A period of decline in economic activity.
tax haven
recession
questionable payments
fiscal policies
11. How companies try to show their products as being different from those of their rivals.
shopping centre
Nominal GDP
product differentiation
width of assortment
12. A person who works for someone else in exchange for payment.
NGOs
employee
balance of trade
trademark
13. Regulations that mean permission from the government is required before certain items can be exported.
oligopoly
export controls
supermarket
intellectual property
14. An enormous planned shopping centre with hundreds of stores under one roof.
CBI
intellectual property
tariff barriers
megamall
15. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
convenience store
consumer durables
capital spending
bulk discount
16. The support of a cause.
mom-and-pop store
investment
urban
advocacy
17. The purchase of a financial product or other item of value with the hope that it will become more valuable.
fiscal policies
consumer goods
investment
direct selling
18. The area of the economy that produces goods and provides services.
quota
factors of production
new capital investment
business sector
19. An economic sanction that forbids the import of a specific product or all products from a specific country.
discontinued
embargo
customs
trade surplus
20. A voluntary sector or charity sector organization.
stakeholder
dealer brands
social structure
not-for-profit
21. Statement of policy issued by a government which may form the basis of a future law.
budget deficit
balance of trade
White paper
CPI
22. Usually software where the source code is made freely available for all users to change as they see fit.
debit-card system
monetary policies
over the counter drug
open source
23. Focusing on a more specific line of products or services in comparison to competitors.
niche strategy
entrepreneurship
monetary policies
budget surplus
24. An owner of shares or stocks in a company.
foreign exchange
supermarket
shareholder
recession
25. 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.
NIMBY
niche strategy
BPI
markup
26. A retailer that concentrates on selling one particular type of good.
speciality store
over the counter drug
consumer non-durables
GDP
27. The process of turning raw materials and parts into finished products.
manufacturing
EPOS
depth of assortment
household sector
28. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
quota
CBD
myopic perspective
EDI
29. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.
advocacy
protectionism
inventory
debit-card system
30. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
market penetration
store
direct selling
cooperative
31. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
BPI
competitive
real GDP
quota
32. A collection of shops under one roof with a shared entrance and food area.
Fed
entrepreneurship
shopping centre
aggregate demand
33. A medicine which is available without first getting a prescription from a doctor.
volunteer
bulk discount
CBI
over the counter drug
34. A country's exports minus its imports.
household sector
money supply
stakeholder
balance of trade
35. A consultation document that sets out the government's position on a certain issue.
benchmarking
Green paper
supplier
money supply
36. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
niche strategy
grease payments
new capital investment
otc drug
37. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.
manufacturing
sustainability
mission statement
WTO
38. A range of many things or people that are very different from each other.
discretionary income
governance
inventory
diversity
39. The total amount of money in circulation in a country.
standard of living
money supply
NGOs
store loyalty
40. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
automatic reordering system
greenfield site
capital spending
WTO
41. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.
statutory
economic growth
real GDP
depth of assortment
42. Machine for processing sales - giving change in a shop or restaurant.
market skimming
negotiation
customs
checkout
43. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
protectionism
inventory shrinkage
Nominal GDP
OECD
44. The variety of goods that a retailer sells.
depth of assortment
niche strategy
Fed
stakeholder
45. Meeting accepted guidelines or laws.
real GDP
social structure
compliance
negative equity
46. The sum of money invested in new or additional equipment.
target market
societal
trade deficit
new capital investment
47. Connected with society and the way it is organized.
fake
economic growth
societal
advocacy
48. When a private company provides a public service in agreement with a government or council.
downswing
public-private partnership
inventory
new capital investment
49. A way of measuring performance by comparing a company to similar ones.
standard of living
consumer durables
inventory management
benchmarking
50. When a customer regularly uses a store they know - like and trust.
width of assortment
Nominal GDP
boom
store loyalty
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