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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. A range of many things or people that are very different from each other.
diversity
over the counter drug
retail outlet
target market
2. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
quota
NIMBY
social stratification
aggregate demand
3. Focusing on a more specific line of products or services in comparison to competitors.
fiscal policies
niche strategy
intellectual property
target market
4. When budget spending exceeds revenue.
FDI
convenience store
trade surplus
budget deficit
5. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
competitive
EPOS
self-service
direct selling
6. An area of land which has never been built on.
otc drug
urban
export controls
greenfield site
7. A retail outlet.
prime rate
store
automatic reordering system
monetary policies
8. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
NGOs
social stratification
automatic reordering system
questionable payments
9. A reduction in the selling price of an item in order to increase sales.
shelf warmer
markdown
not-for-profit
EDI
10. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
RPI
open source
foreign exchange
upswing
11. Business wholly owned by its employees with the emphasis on group decision making.
cooperative
GDP
shareholder
producer goods
12. A minimum income level below which people are officially poor.
checkout
poverty line
market penetration
depth of assortment
13. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
societal
protectionism
budget surplus
WTO
14. Items which a shop has and are available to buy.
customs
PPP
social stratification
in-stock
15. Confederation of British Industry
CBI
grease payments
economic growth
diversity
16. 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.
dead stock
franchising
depression
shareholder
17. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
freehold
volunteer
monopoly
barter
18. When a customer regularly uses a store they know - like and trust.
store loyalty
capital spending
balance of payments
currency hedging
19. Goods bought and used by companies - such as machines. Also known as capital goods.
balance of trade
new capital investment
open-market operations
producer goods
20. Machine for processing sales - taking payments - giving change. Also know as a cash register.
market penetration
markdown
till
beneficiary
21. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.
Nominal GDP
monopoly
fiscal policies
FDI
22. A self-service food store with grocery - meat and produce departments.
market skimming
capital spending
reduced
supermarket
23. American Federation of Labour / Association of Industrial Organizations
CPI
AFL/CIO
department store
negotiation
24. A retailer that concentrates on selling one particular type of good.
franchising
non-tariff barriers
stakeholder
speciality store
25. Trade Union Congress.
TUC
employee
loyalty card
tariff barriers
26. The difference between merchandise costs and retail selling price.
markup
greenbelt
open source
real GDP
27. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
greenbelt
balance of payments
customs
national debt
28. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.
fake
in-stock
copyright
mission statement
29. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
self-service
foreign exchange
department store
questionable payments
30. The amount of money a person has left after paying taxes and buying necessities.
beneficiary
public-private partnership
discretionary income
consumer non-durables
31. The balance between interest rates and the demand for money.
market equilibrium
standard of living
FDI
market penetration
32. The legal right of the owner of a work over its control and distribution.
copyright
competitive
depression
business sector
33. The number of times during a period a business sells its inventory and replaces it.
consumer non-durables
inventory turnover
discretionary income
fiscal policies
34. A period where there is little economic activity - high unemployment and much poverty.
empowerment
employee
depression
NAFTA
35. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.
inventory
questionable payments
Nominal GDP
negative equity
36. 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.
NAFTA
BPI
dealer brands
budget surplus
37. A consultation document that sets out the government's position on a certain issue.
factors of production
compliance
entrepreneurship
Green paper
38. The different layers within a society e.g. class - income - education.
trade deficit
mission statement
social stratification
outsourcing
39. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
FMCG
target market
balance of payments
business cycle
40. Organization for Economic Cooperation and Development
loyalty card
tariff
OECD
consumer durables
41. Items in a store which have not sold for a longer period of time.
dead stock
fiscal policies
monopoly
reduced
42. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
entrepreneurship
tariff barriers
dealer brands
discontinued
43. Regulations that mean permission from the government is required before certain items can be exported.
export controls
CBI
width of assortment
otc drug
44. An item which is no longer produced by a manufacturer or sold by a retailer.
WTO
market skimming
assessment
discontinued
45. The money a state earns via taxation.
balance of payments
tax revenue
customs
consumer non-durables
46. Volunteer organization for young - disadvantaged Americans.
boom
mission statement
Americorps
sustainable development
47. The resources used to produce goods and services - including land - labour - business and capital.
EPOS
factors of production
direct selling
discontinued
48. Financial aid by the government to an individual or group to support an activity that is in the public interest.
open source
subsidy
currency hedging
national debt
49. The total amount of money in circulation in a country.
trademark
money supply
stock turnover
impulse purchase
50. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
shopping centre
shelf warmer
export controls
trade surplus