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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.
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. Agreement that provided the basis for the formation of the European Union.
Maastricht Treaty
variety store
processing
competitive
2. A minimum income level below which people are officially poor.
shareholder
depression
mom-and-pop store
poverty line
3. When budget spending exceeds revenue.
stockroom
WTO
budget deficit
self-service
4. When a private company provides a public service in agreement with a government or council.
public-private partnership
negotiation
customer
societal
5. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
trade surplus
inventory shrinkage
tariff
FMCG
6. Patterns of relationships between different groups of society.
social structure
negotiation
Americorps
duty
7. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
intellectual property
core products
automatic reordering system
protectionism
8. When a customer regularly uses a store they know - like and trust.
consumer non-durables
open source
store loyalty
width of assortment
9. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
bulk discount
questionable payments
investment
foreign exchange
10. Machine for processing sales - taking payments - giving change. Also know as a cash register.
mission statement
supplier
fiscal policies
till
11. An item which is no longer produced by a manufacturer or sold by a retailer.
discontinued
in-stock
dealer brands
reduced
12. A medicine which is available without first getting a prescription from a doctor.
idle capacity
consumer non-durables
duty
over the counter drug
13. Trade Union Congress.
open source
embargo
consumer goods
TUC
14. System in which good or services are exchanged for other goods or services rather than cash.
NAFTA
barter
not-for-profit
mortgage
15. The area of the economy that produces goods and provides services.
greenbelt
business sector
copycat
convenience store
16. Economic policies designed to support business and help it expand.
open-market operations
store loyalty
constructive economic policies
beneficiary
17. Involving the use of natural resources and energy in a way that does not harm the environment.
sustainable
beneficiary
processing
mom-and-pop store
18. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.
restrictive economic policies
statutory
market penetration
BPI
19. American Federation of Labour / Association of Industrial Organizations
blight
AFL/CIO
poverty line
customer
20. Economic policies that use money e.g. interest rates or money supply as the major instruments.
export controls
monetary policies
TUC
speciality store
21. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).
quota
currency hedging
not-for-profit
barter
22. A large - long-term loan taken out to pay for a house.
questionable payments
mortgage
prime rate
societal
23. When a small number of companies control a certain market.
advocacy
dealer brands
consumer non-durables
oligopoly
24. Regular fluctuations in overall economic activity over time.
fiscal policies
business cycle
megamall
upswing
25. An imitation of a product made with the intent to defraud a customer.
counterfeit
OECD
public-private partnership
statutory
26. Regulations that mean permission from the government is required before certain items can be exported.
sanctions
capital spending
Maastricht Treaty
export controls
27. A test or way of measuring something.
budget surplus
direct selling
embargo
assessment
28. Focusing on a more specific line of products or services in comparison to competitors.
markdown
money supply
PPP
niche strategy
29. Financial aid by the government to an individual or group to support an activity that is in the public interest.
dead stock
product differentiation
greenfield site
subsidy
30. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
fiscal policies
monopoly
AAA
sanctions
31. The total sum of a nation's outstanding debt.
till
leasehold
recession
national debt
32. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
depth of assortment
greenbelt
GDP
product differentiation
33. An area of land which has never been built on.
inventory shrinkage
inventory turnover
capital spending
greenfield site
34. The percentage of a household's income that is saved.
budget deficit
customs
savings rate
infringement
35. A retailer that concentrates on selling one particular type of good.
consumer non-durables
constructive economic policies
tax revenue
speciality store
36. A government-imposed tax on imports.
real GDP
blight
WTO
tariff
37. Usually software where the source code is made freely available for all users to change as they see fit.
open source
mom-and-pop store
embargo
trademark
38. The difference between merchandise costs and retail selling price.
convenience store
Green paper
markup
freehold
39. A reduction in price offered when buying an item in higher quantities.
retail outlet
CBI
Fed
bulk discount
40. When the exports a country makes exceed the imports.
mission statement
intellectual property
trade surplus
inventory shrinkage
41. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
convenience store
dead stock
protectionism
export controls
42. An enormous planned shopping centre with hundreds of stores under one roof.
mortgage
monetary policies
automatic reordering system
megamall
43. A person or company from whom goods or services are bought.
fake
advertising
negative equity
supplier
44. Items which a shop has and are available to buy.
in-stock
compliance
counterfeit
discretionary income
45. Doing something (performing a process) to make a material ready for your requirments.
infringement
retail outlet
processing
myopic perspective
46. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
savings rate
household sector
societal
diversity
47. Exclusive ownership of a property for an indefinite period of time.
consumer goods
freehold
cooperative
markup
48. A retail store that handles a wide variety of inexpensive and cheaply priced goods.
not-for-profit
statutory
variety store
myopic perspective
49. Business wholly owned by its employees with the emphasis on group decision making.
copycat
standard of living
cooperative
beneficiary
50. Giving people the freedom to decide things and take responsibility for themselves.
empowerment
till
RPI
compliance
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