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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. The amount of wealth - money - comfort etc that a particular person - group or society has.
competitive
standard of living
tax haven
sustainability
2. 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.
cooperative
freehold
mission statement
compliance
3. A way of measuring performance by comparing a company to similar ones.
Americorps
competitive
benchmarking
otc drug
4. Meeting accepted guidelines or laws.
governance
national debt
embargo
compliance
5. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
NIMBY
negative equity
megamall
diversity
6. A minimum income level below which people are officially poor.
poverty line
megamall
governance
intellectual property
7. A reduction in price offered when buying an item in higher quantities.
restrictive economic policies
bulk discount
allocation
outsourcing
8. When budget spending exceeds revenue.
compliance
budget deficit
market equilibrium
questionable payments
9. When a price has been cut.
advocacy
speciality store
customs
reduced
10. 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.
debit-card system
entrepreneurship
standard of living
current account
11. A government-imposed tax on imports.
quota
tariff
diversity
duty
12. Goods bought for private use.
manufacturing
depression
consumer goods
FMCG
13. The purchase of a financial product or other item of value with the hope that it will become more valuable.
shelf warmer
balance of payments
investment
FMCG
14. A company's main products - e.g. Opel's core product is cars.
supermarket
greenbelt
tariff barriers
core products
15. When the exports a country makes exceed the imports.
intellectual property
trade surplus
diversity
EDI
16. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
constructive economic policies
business sector
shelf warmer
deficit spending
17. Buying currency options that fix exchange rates for a period of time.
social stratification
grease payments
currency hedging
quota
18. A computerised stock-control system which reorders stock automatically when it reaches a certain level.
automatic reordering system
mortgage
duty
household sector
19. Shows the flows of money into and out of a country plus transfer payments.
social structure
balance of payments
boom
BPI
20. When a small number of companies control a certain market.
restrictive economic policies
reduced
oligopoly
shareholder value
21. The total amount of money in circulation in a country.
money supply
open source
variety store
sustainability
22. Machine for processing sales - giving change in a shop or restaurant.
subsidy
retail outlet
budget surplus
checkout
23. A test or way of measuring something.
store loyalty
assessment
employee
niche strategy
24. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
impulse purchase
checkout
supply chain
CPI
25. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
FDI
GDP
retail outlet
barter
26. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
loyalty card
allocation
retail outlet
protectionism
27. Money which is spent on construction - land - machinery etc which has an expected working life of more than one year - investments in the future of a business.
subsidy
capital spending
unemployment rate
GDP
28. A large - long-term loan taken out to pay for a house.
reduced
mortgage
retail outlet
target market
29. A large retail unit selling a wide variety of goods in separate departments.
tax revenue
retail outlet
beneficiary
department store
30. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.
myopic perspective
poverty line
governance
prime rate
31. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
new capital investment
White paper
recession
dealer brands
32. 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.
factors of production
sustainable
EPOS
fiscal policies
33. The legal right of the owner of a work over its control and distribution.
processing
copyright
household sector
BPI
34. A period where there is little economic activity - high unemployment and much poverty.
loyalty card
depression
assessment
greenfield site
35. A retailer that concentrates on selling one particular type of good.
product differentiation
in-stock
speciality store
export controls
36. Consumer goods that have a long life span - e.g. furniture.
shopping centre
oligopoly
myopic perspective
consumer durables
37. A country's exports minus its imports.
real GDP
balance of trade
stock turnover
RPI
38. A period of very high economic activity.
PPP
boom
AFL/CIO
EPOS
39. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.
upswing
self-service
EPOS
consumer non-durables
40. Refers to the number of distinct goods or services a retailer offers.
recession
width of assortment
constructive economic policies
statutory
41. Usually software where the source code is made freely available for all users to change as they see fit.
trademark
open source
cooperative
RPI
42. A card payment system where the cost of goods or services is immediately removed from a bank account.
debit-card system
duty
Nominal GDP
franchising
43. The skills and knowledge needed to start and run a company.
trademark
entrepreneurship
discretionary income
leasehold
44. Items sold in a store during a certain period measuring in number of units or value.
stock turnover
inventory
franchising
dealer brands
45. Obstacles to international trade other than tariffs.
consumer non-durables
non-tariff barriers
dealer brands
FMCG
46. The hub of retailing in a city - where the most office buildings and retail stores are.
unemployment rate
Green paper
central business district
shareholder value
47. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.
processing
intellectual property
monetary policies
customs
48. Items which a shop has and are available to buy.
statutory
mission statement
market penetration
in-stock
49. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
standard of living
WTO
BPI
bulk discount
50. The customer group a retailer wants to attract and satisfy.
reduced
BPI
OECD
target market