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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. 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?
NGOs
PPP
competitive
budget deficit
2. Focusing on a more specific line of products or services in comparison to competitors.
recession
tax haven
niche strategy
markdown
3. 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.
tax haven
checkout
customs
self-service
4. A person who works for someone else in exchange for payment.
sustainable development
employee
variety store
export controls
5. The sum of money invested in new or additional equipment.
public-private partnership
new capital investment
monopoly
trade surplus
6. The area of the economy that produces goods and provides services.
customer
business sector
target market
self-service
7. The checking - ordering & processing of stock levels.
business cycle
inventory management
national debt
greenfield site
8. Goods bought and used by companies - such as machines. Also known as capital goods.
OECD
producer goods
intellectual property
balance of payments
9. Consumer goods that have a long life span - e.g. furniture.
FMCG
sustainability
chain
consumer durables
10. Economic policies that use money e.g. interest rates or money supply as the major instruments.
variety store
inventory shrinkage
real GDP
monetary policies
11. Organization for Economic Cooperation and Development
niche strategy
OECD
FDI
savings rate
12. Central Business District - the largest retail and office area of a city - also known as downtown
EDI
PPP
CBD
governance
13. The variety of goods that a retailer sells.
mom-and-pop store
depth of assortment
sanctions
stock turnover
14. Hiring an external company to perform tasks for a company and reduce costs.
outsourcing
inventory shrinkage
customer
sustainability
15. Buying currency options that fix exchange rates for a period of time.
currency hedging
NAFTA
checkout
assessment
16. An extremely adverse environmental condition.
boom
PPP
convenience store
blight
17. A consultation document that sets out the government's position on a certain issue.
Green paper
capital spending
NAFTA
blight
18. Obstacles to international trade other than tariffs.
monopoly
shopping centre
non-tariff barriers
capital spending
19. Relating to cities or built up areas - not the countryside.
urban
compliance
current account
market equilibrium
20. An owner of shares or stocks in a company.
factors of production
cooperative
capital spending
shareholder
21. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
supplier
franchising
CPI
FMCG
22. Items sold in a store during a certain period measuring in number of units or value.
stock turnover
inventory
current account
public-private partnership
23. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.
inventory
diversity
market penetration
trade surplus
24. An individual or company buying from someone.
sustainable development
customer
sustainable
till
25. When a company reduces their output during a recession they have excess or idle capacity.
idle capacity
niche strategy
duty
fake
26. When a private company provides a public service in agreement with a government or council.
public-private partnership
consumer goods
deficit spending
boom
27. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
monopoly
loyalty card
CPI
TUC
28. Products that can hold their own against rival products in terms of price - features or quality.
competitive
budget deficit
household sector
customer
29. 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.
trademark
market equilibrium
franchising
diversity
30. A large - long-term loan taken out to pay for a house.
mortgage
open source
supermarket
counterfeit
31. Agreement that provided the basis for the formation of the European Union.
open source
Maastricht Treaty
boom
currency hedging
32. The right to live in a home on a long-term tenancy.
market skimming
product differentiation
leasehold
balance of trade
33. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.
mom-and-pop store
myopic perspective
downswing
business cycle
34. When a customer regularly uses a store they know - like and trust.
leasehold
standard of living
Americorps
store loyalty
35. Meeting accepted guidelines or laws.
GDP
real GDP
dealer brands
compliance
36. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
variety store
tariff
CPI
deficit spending
37. Trade Union Congress.
TUC
monetary policies
counterfeit
real GDP
38. A minimum income level below which people are officially poor.
debit-card system
poverty line
automatic reordering system
factors of production
39. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
core products
inventory turnover
direct selling
Fed
40. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
reduced
greenbelt
AAA
FDI
41. The number of times during a period a business sells its inventory and replaces it.
recession
boom
business sector
inventory turnover
42. The customer group a retailer wants to attract and satisfy.
target market
social stratification
societal
otc drug
43. A period of economic expansion.
sustainable
myopic perspective
upswing
speciality store
44. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.
NGOs
EPOS
statutory
trademark
45. The amount of money a person has left after paying taxes and buying necessities.
capital spending
discretionary income
advertising
FMCG
46. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.
cooperative
chain
FDI
tariff barriers
47. A way of measuring performance by comparing a company to similar ones.
money supply
benchmarking
supply chain
open-market operations
48. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
deficit spending
negotiation
dealer brands
competitive
49. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
tax haven
FMCG
till
reduced
50. Usually software where the source code is made freely available for all users to change as they see fit.
trade surplus
myopic perspective
open source
discontinued