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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 pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
trademark
market skimming
PPP
empowerment
2. Sets of specific restraints imposed by governments on international trade.
TUC
not-for-profit
sanctions
debit-card system
3. A retail outlet.
debit-card system
store
CBD
embargo
4. A reduction in the selling price of an item in order to increase sales.
markdown
discontinued
tariff barriers
compliance
5. An economic sanction that forbids the import of a specific product or all products from a specific country.
public-private partnership
speciality store
embargo
franchising
6. When budget spending exceeds revenue.
budget deficit
bulk discount
market skimming
vending machine
7. A large retail unit selling a wide variety of goods in separate departments.
till
department store
advocacy
not-for-profit
8. An area of land which has never been built on.
greenfield site
FMCG
barter
business cycle
9. Government policies to cool down an economy and prevent inflation during boom periods.
restrictive economic policies
WTO
budget deficit
franchising
10. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
markup
NGOs
stock turnover
stakeholder
11. Development which can be done without harming the environment or natural resources.
poverty line
public-private partnership
unemployment rate
sustainable development
12. When the imports into a country exceed the exports going out of a country.
TUC
processing
capital spending
trade deficit
13. The checking - ordering & processing of stock levels.
beneficiary
TUC
capital spending
inventory management
14. Regular fluctuations in overall economic activity over time.
PPP
department store
business cycle
trade surplus
15. 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.
current account
target market
inventory
tax revenue
16. Items which a shop has and are available to buy.
in-stock
store
otc drug
processing
17. Exclusive ownership of a property for an indefinite period of time.
currency hedging
supply chain
competitive
freehold
18. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
public-private partnership
customer
allocation
dealer brands
19. An owner of shares or stocks in a company.
embargo
aggregate demand
Fed
shareholder
20. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
greenfield site
empowerment
sustainability
GDP
21. The system of organizations involved in moving a product from manufacturer to customer.
negative equity
supply chain
diversity
constructive economic policies
22. Relating to cities or built up areas - not the countryside.
BPI
oligopoly
urban
trade deficit
23. The buying and selling of government securities by a central bank in order to control the money supply.
variety store
societal
tax revenue
open-market operations
24. A medicine which is available without first getting a prescription from a doctor.
otc drug
over the counter drug
balance of payments
recession
25. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
WTO
vending machine
processing
inventory
26. An individual or company buying from someone.
blight
employee
customer
investment
27. A small owner-operated store serving a local community.
governance
foreign exchange
freehold
mom-and-pop store
28. A person or organization which receives money from a charity.
quota
recession
beneficiary
impulse purchase
29. Consumer goods that have a long life span - e.g. furniture.
consumer durables
shareholder
unemployment rate
supplier
30. 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.
fiscal policies
automatic reordering system
aggregate demand
budget deficit
31. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
inventory management
direct selling
NIMBY
WTO
32. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.
poverty line
reduced
intellectual property
width of assortment
33. How companies try to show their products as being different from those of their rivals.
counterfeit
investment
consumer goods
product differentiation
34. System in which good or services are exchanged for other goods or services rather than cash.
constructive economic policies
barter
discretionary income
vending machine
35. A consultation document that sets out the government's position on a certain issue.
Green paper
loyalty card
producer goods
core products
36. A retailer that concentrates on selling one particular type of good.
markup
supermarket
speciality store
BPI
37. Financial aid by the government to an individual or group to support an activity that is in the public interest.
subsidy
currency hedging
real GDP
sanctions
38. Focusing on a more specific line of products or services in comparison to competitors.
economic growth
urban
dead stock
niche strategy
39. The area of the economy that produces goods and provides services.
business sector
tariff barriers
inventory turnover
non-tariff barriers
40. The rare situation when budget spending is smaller than revenue.
budget surplus
monopoly
niche strategy
questionable payments
41. When a company reduces their output during a recession they have excess or idle capacity.
EDI
automatic reordering system
idle capacity
shareholder value
42. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
employee
monopoly
subsidy
budget surplus
43. A period of shrinking economic activity.
constructive economic policies
downswing
copyright
direct selling
44. Connected with society and the way it is organized.
processing
convenience store
deficit spending
societal
45. Statement of policy issued by a government which may form the basis of a future law.
business sector
allocation
White paper
supermarket
46. Someone who does something without being paid for it - e.g. working for a charity.
leasehold
myopic perspective
volunteer
oligopoly
47. A period of economic expansion.
upswing
inventory shrinkage
in-stock
infringement
48. The hub of retailing in a city - where the most office buildings and retail stores are.
debit-card system
open source
depression
central business district
49. Items in a store which have not sold for a longer period of time.
dead stock
FDI
depth of assortment
mortgage
50. The different layers within a society e.g. class - income - education.
social stratification
compliance
entrepreneurship
vending machine