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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. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.
NAFTA
retail outlet
TUC
market equilibrium
2. When the exports a country makes exceed the imports.
shareholder
subsidy
trade surplus
manufacturing
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.
customs
social structure
leasehold
manufacturing
4. Confederation of British Industry
CPI
non-tariff barriers
tax revenue
CBI
5. 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.
tariff barriers
mission statement
FMCG
advocacy
6. A reduction in price offered when buying an item in higher quantities.
advocacy
bulk discount
CBD
fake
7. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
stockroom
market skimming
self-service
manufacturing
8. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
RPI
market equilibrium
governance
poverty line
9. Announcing that a product is for sale - trying to persuade customers to buy a product or service.
money supply
advertising
aggregate demand
shareholder
10. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
store loyalty
export controls
AAA
over the counter drug
11. Hiring an external company to perform tasks for a company and reduce costs.
outsourcing
convenience store
foreign exchange
TUC
12. American Federation of Labour / Association of Industrial Organizations
governance
reduced
advocacy
AFL/CIO
13. A person or organization which receives money from a charity.
CPI
Nominal GDP
beneficiary
automatic reordering system
14. A period of decline in economic activity.
recession
stockroom
blight
economic growth
15. The way in which a company is controlled.
Fed
governance
self-service
CBD
16. A period of economic expansion.
supply chain
upswing
poverty line
volunteer
17. Items in a store which have not sold for a longer period of time.
dead stock
greenfield site
FDI
sustainable
18. A sign or symbol used by a company such as the Nike swish logo which is protected by law.
savings rate
trademark
market equilibrium
intellectual property
19. 1. The sum of the balance of trade plus net factor income (interest dividends) plus net transfer payments (foreign aid).2. Low or no-interest bank account used for daily transactions e.g. using an ATM - with a cheque book or debit card.
NAFTA
tax revenue
supply chain
current account
20. The different layers within a society e.g. class - income - education.
shopping centre
social stratification
trade surplus
PPP
21. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
EPOS
tax revenue
household sector
outsourcing
22. The hub of retailing in a city - where the most office buildings and retail stores are.
central business district
savings rate
sustainability
shareholder value
23. The Federal Reserve - the US central banking system.
Fed
processing
debit-card system
otc drug
24. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.
grease payments
self-service
competitive
outsourcing
25. The number of times during a period a business sells its inventory and replaces it.
monetary policies
inventory turnover
stockroom
real GDP
26. Financial aid by the government to an individual or group to support an activity that is in the public interest.
subsidy
franchising
NGOs
stakeholder
27. Process of communicating back and forth until an agreement has been reached.
currency hedging
downswing
cooperative
negotiation
28. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.
counterfeit
FDI
social structure
real GDP
29. Economic policies that use taxation to correct the course of the economy e.g. lowering sales tax to encourage spending or raising interest rates to encourage saving.
entrepreneurship
fiscal policies
depression
open-market operations
30. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
customer
social stratification
shelf warmer
greenfield site
31. The balance between interest rates and the demand for money.
market equilibrium
shareholder value
consumer durables
societal
32. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
mortgage
central business district
NGOs
embargo
33. A person or company from whom goods or services are bought.
supplier
national debt
tax revenue
producer goods
34. A consultation document that sets out the government's position on a certain issue.
Green paper
shelf warmer
negative equity
employee
35. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
capital spending
NIMBY
stakeholder
monopoly
36. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
savings rate
EDI
WTO
trade deficit
37. A large retail unit selling a wide variety of goods in separate departments.
monopoly
sanctions
department store
economic growth
38. Something which is a copy or imitation.
real GDP
empowerment
embargo
fake
39. Agreement that provided the basis for the formation of the European Union.
Maastricht Treaty
impulse purchase
market skimming
loyalty card
40. A company's main products - e.g. Opel's core product is cars.
core products
stakeholder
societal
speciality store
41. The support of a cause.
trademark
target market
advocacy
impulse purchase
42. Organization for Economic Cooperation and Development
embargo
barter
deficit spending
OECD
43. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
TUC
inventory
manufacturing
tax haven
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.
factors of production
EPOS
inventory
automatic reordering system
45. Shows the flows of money into and out of a country plus transfer payments.
balance of payments
idle capacity
variety store
shopping centre
46. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
consumer non-durables
retail outlet
entrepreneurship
protectionism
47. A large - long-term loan taken out to pay for a house.
mortgage
stockroom
markdown
idle capacity
48. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
inventory shrinkage
foreign exchange
embargo
diversity
49. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
consumer goods
trademark
GDP
copyright
50. The system of organizations involved in moving a product from manufacturer to customer.
sustainability
currency hedging
consumer non-durables
supply chain
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