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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 Federal Reserve - the US central banking system.
statutory
assessment
Fed
manufacturing
2. A period where there is little economic activity - high unemployment and much poverty.
public-private partnership
depression
national debt
standard of living
3. The different layers within a society e.g. class - income - education.
advocacy
Nominal GDP
otc drug
social stratification
4. 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.
depth of assortment
copycat
tariff barriers
customs
5. A period of decline in economic activity.
recession
manufacturing
greenfield site
sustainability
6. A retail outlet.
shelf warmer
store
sustainable development
Fed
7. The system of organizations involved in moving a product from manufacturer to customer.
employee
supply chain
beneficiary
NAFTA
8. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
discontinued
CPI
consumer durables
BPI
9. When a company reduces their output during a recession they have excess or idle capacity.
target market
statutory
speciality store
idle capacity
10. When a customer regularly uses a store they know - like and trust.
national debt
department store
chain
store loyalty
11. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.
Fed
consumer durables
not-for-profit
market penetration
12. The sum of money invested in new or additional equipment.
new capital investment
quota
product differentiation
urban
13. Shows the flows of money into and out of a country plus transfer payments.
greenbelt
trade deficit
checkout
balance of payments
14. Central Business District - the largest retail and office area of a city - also known as downtown
greenbelt
AAA
CBD
convenience store
15. Machine for processing sales - taking payments - giving change. Also know as a cash register.
grease payments
White paper
downswing
till
16. Regulations that mean permission from the government is required before certain items can be exported.
self-service
oligopoly
public-private partnership
export controls
17. A minimum income level below which people are officially poor.
poverty line
trade deficit
target market
oligopoly
18. A person or company from whom goods or services are bought.
markup
stockroom
supplier
trademark
19. The total sum of goods and services in demand.
aggregate demand
duty
Maastricht Treaty
store loyalty
20. The right to live in a home on a long-term tenancy.
processing
consumer non-durables
leasehold
assessment
21. A voluntary sector or charity sector organization.
not-for-profit
supermarket
dead stock
monopoly
22. Economic policies designed to support business and help it expand.
discontinued
constructive economic policies
FDI
supply chain
23. System in which good or services are exchanged for other goods or services rather than cash.
advertising
leasehold
barter
capital spending
24. Financial aid by the government to an individual or group to support an activity that is in the public interest.
Fed
sustainability
variety store
subsidy
25. A small owner-operated store serving a local community.
mom-and-pop store
non-tariff barriers
counterfeit
niche strategy
26. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
over the counter drug
assessment
width of assortment
tax haven
27. An extremely adverse environmental condition.
downswing
blight
household sector
impulse purchase
28. When budget spending exceeds revenue.
budget deficit
copycat
vending machine
copyright
29. Consumer goods that have a long life span - e.g. furniture.
national debt
central business district
consumer durables
RPI
30. Multiple retail units under common ownership.
constructive economic policies
shelf warmer
chain
FMCG
31. A medicine which is available without first getting a prescription from a doctor.
cooperative
new capital investment
over the counter drug
non-tariff barriers
32. The area of the economy that produces goods and provides services.
quota
sanctions
business sector
customs
33. The balance between interest rates and the demand for money.
supermarket
store loyalty
BPI
market equilibrium
34. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.
self-service
boom
customs
economic growth
35. How companies try to show their products as being different from those of their rivals.
product differentiation
subsidy
urban
dealer brands
36. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
manufacturing
target market
variety store
loyalty card
37. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
supplier
EDI
social stratification
FMCG
38. Value of the entire company as expressed by its market capitalization.
leasehold
economic growth
volunteer
shareholder value
39. The percentage of a household's income that is saved.
savings rate
GDP
debit-card system
infringement
40. A shop or store.
mission statement
automatic reordering system
infringement
retail outlet
41. Focusing on a more specific line of products or services in comparison to competitors.
AAA
convenience store
negotiation
niche strategy
42. An item which is no longer produced by a manufacturer or sold by a retailer.
discontinued
statutory
product differentiation
reduced
43. When the exports a country makes exceed the imports.
OECD
oligopoly
trademark
trade surplus
44. Process of communicating back and forth until an agreement has been reached.
stockroom
negotiation
market penetration
negative equity
45. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
inventory shrinkage
mom-and-pop store
national debt
benchmarking
46. A financial instrument that facilitates payment from one currency to another.
foreign exchange
shareholder
variety store
megamall
47. The buying and selling of government securities by a central bank in order to control the money supply.
open-market operations
variety store
freehold
vending machine
48. A large retail unit selling a wide variety of goods in separate departments.
market equilibrium
deficit spending
department store
idle capacity
49. Connected with society and the way it is organized.
cooperative
societal
monetary policies
open-market operations
50. 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.
tax haven
fiscal policies
assessment
supplier