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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. How companies try to show their products as being different from those of their rivals.
impulse purchase
balance of payments
product differentiation
upswing
2. The purchase of a financial product or other item of value with the hope that it will become more valuable.
till
counterfeit
store
investment
3. System in which good or services are exchanged for other goods or services rather than cash.
markdown
oligopoly
barter
stockroom
4. The area of the economy that produces goods and provides services.
PPP
convenience store
core products
business sector
5. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.
FDI
chain
sanctions
processing
6. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.
variety store
constructive economic policies
NAFTA
BPI
7. A medicine which is available without first getting a prescription from a doctor.
over the counter drug
mission statement
customs
freehold
8. A voluntary sector or charity sector organization.
not-for-profit
infringement
shopping centre
in-stock
9. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.
oligopoly
in-stock
money supply
myopic perspective
10. The hub of retailing in a city - where the most office buildings and retail stores are.
direct selling
entrepreneurship
central business district
consumer goods
11. 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.
investment
BPI
impulse purchase
market skimming
12. Consumer goods that have a short life span - e.g. food or paper tissues.
vending machine
savings rate
foreign exchange
consumer non-durables
13. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
deficit spending
budget deficit
loyalty card
public-private partnership
14. The customer group a retailer wants to attract and satisfy.
BPI
OECD
target market
Maastricht Treaty
15. A storeroom where items which cannot be put on display are stored.
monetary policies
stockroom
advertising
core products
16. 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.
fake
sanctions
customs
advocacy
17. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
otc drug
market penetration
shareholder value
monopoly
18. A large retail unit selling a wide variety of goods in separate departments.
infringement
GDP
standard of living
department store
19. Volunteer organization for young - disadvantaged Americans.
real GDP
recession
markup
Americorps
20. Development which can be done without harming the environment or natural resources.
oligopoly
freehold
shopping centre
sustainable development
21. The skills and knowledge needed to start and run a company.
entrepreneurship
Americorps
inventory
deficit spending
22. A sign or symbol used by a company such as the Nike swish logo which is protected by law.
product differentiation
trademark
otc drug
AFL/CIO
23. A period of economic expansion.
entrepreneurship
upswing
tariff
employee
24. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
AFL/CIO
protectionism
sustainability
Maastricht Treaty
25. The legal right of the owner of a work over its control and distribution.
household sector
copyright
producer goods
vending machine
26. American Federation of Labour / Association of Industrial Organizations
AFL/CIO
mom-and-pop store
new capital investment
real GDP
27. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
deficit spending
NGOs
copyright
volunteer
28. Machine for processing sales - giving change in a shop or restaurant.
inventory management
checkout
trade deficit
market skimming
29. Items in a store which have not sold for a longer period of time.
manufacturing
dead stock
balance of trade
tax revenue
30. Involving the use of natural resources and energy in a way that does not harm the environment.
franchising
constructive economic policies
diversity
sustainable
31. The way in which a company is controlled.
NGOs
dealer brands
consumer goods
governance
32. Obstacles to international trade other than tariffs.
balance of trade
non-tariff barriers
dealer brands
volunteer
33. Focusing on a more specific line of products or services in comparison to competitors.
niche strategy
automatic reordering system
AFL/CIO
cooperative
34. Central Business District - the largest retail and office area of a city - also known as downtown
recession
CBD
national debt
Nominal GDP
35. When a price has been cut.
upswing
idle capacity
reduced
currency hedging
36. The total amount of money in circulation in a country.
shelf warmer
money supply
AFL/CIO
tariff barriers
37. The sum of money invested in new or additional equipment.
new capital investment
FDI
inventory turnover
inventory shrinkage
38. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
business sector
AAA
assessment
product differentiation
39. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.
chain
sustainability
stakeholder
product differentiation
40. Items sold in a store during a certain period measuring in number of units or value.
stock turnover
checkout
department store
advertising
41. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
tax haven
Nominal GDP
inventory turnover
copyright
42. Imitating another company's ideas rather than developing your own.
markdown
copycat
CPI
depth of assortment
43. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
quota
tariff
CPI
department store
44. The checking - ordering & processing of stock levels.
shareholder value
inventory management
empowerment
household sector
45. A consultation document that sets out the government's position on a certain issue.
Green paper
supply chain
budget surplus
AAA
46. Connected with society and the way it is organized.
duty
societal
prime rate
infringement
47. When a company reduces their output during a recession they have excess or idle capacity.
not-for-profit
till
idle capacity
reduced
48. An economic sanction that forbids the import of a specific product or all products from a specific country.
open-market operations
embargo
competitive
loyalty card
49. Usually software where the source code is made freely available for all users to change as they see fit.
depth of assortment
open source
dead stock
foreign exchange
50. Patterns of relationships between different groups of society.
social structure
investment
Fed
governance