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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. When a company reduces their output during a recession they have excess or idle capacity.
CBD
greenfield site
employee
idle capacity
2. Payments made like a bribe to encourage an official to allow something or get something done.
grease payments
social structure
compliance
balance of trade
3. When budget spending exceeds revenue.
dead stock
foreign exchange
trade surplus
budget deficit
4. Hiring an external company to perform tasks for a company and reduce costs.
outsourcing
CBI
currency hedging
width of assortment
5. The difference between merchandise costs and retail selling price.
shelf warmer
CBI
markup
supplier
6. A retail store that handles a wide variety of inexpensive and cheaply priced goods.
variety store
Green paper
speciality store
allocation
7. Development which can be done without harming the environment or natural resources.
not-for-profit
sustainable development
FMCG
restrictive economic policies
8. Multiple retail units under common ownership.
household sector
outsourcing
PPP
chain
9. 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
megamall
unemployment rate
reduced
10. The sum of money invested in new or additional equipment.
OECD
new capital investment
budget surplus
trade deficit
11. When a price has been cut.
reduced
economic growth
Fed
supermarket
12. A period of shrinking economic activity.
downswing
shareholder
poverty line
over the counter drug
13. Giving people the freedom to decide things and take responsibility for themselves.
empowerment
poverty line
supply chain
budget surplus
14. 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.
not-for-profit
fiscal policies
monetary policies
target market
15. A small owner-operated store serving a local community.
mom-and-pop store
fake
assessment
otc drug
16. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
over the counter drug
dealer brands
Nominal GDP
grease payments
17. Economic policies designed to support business and help it expand.
aggregate demand
greenbelt
freehold
constructive economic policies
18. Consumer goods that have a long life span - e.g. furniture.
consumer durables
competitive
infringement
FMCG
19. A card payment system where the cost of goods or services is immediately removed from a bank account.
NGOs
debit-card system
oligopoly
greenfield site
20. When a customer regularly uses a store they know - like and trust.
outsourcing
store loyalty
GDP
mission statement
21. A period where there is little economic activity - high unemployment and much poverty.
market equilibrium
stockroom
urban
depression
22. The violation of a law or right.
Americorps
infringement
Green paper
oligopoly
23. A financial instrument that facilitates payment from one currency to another.
household sector
foreign exchange
national debt
not-for-profit
24. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
economic growth
AAA
tariff
EDI
25. The rare situation when budget spending is smaller than revenue.
supplier
shareholder
EPOS
budget surplus
26. Items in a store which have not sold for a longer period of time.
cooperative
inventory
dead stock
savings rate
27. A collection of shops under one roof with a shared entrance and food area.
fake
shopping centre
supply chain
TUC
28. Meeting accepted guidelines or laws.
outsourcing
loyalty card
prime rate
compliance
29. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.
NAFTA
urban
leasehold
allocation
30. Connected with society and the way it is organized.
TUC
width of assortment
sanctions
societal
31. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
reduced
boom
unemployment rate
EDI
32. Machine for processing sales - giving change in a shop or restaurant.
NAFTA
tariff barriers
checkout
greenfield site
33. The process of turning raw materials and parts into finished products.
niche strategy
TUC
myopic perspective
manufacturing
34. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
social structure
restrictive economic policies
processing
convenience store
35. A shop or store.
shareholder value
retail outlet
questionable payments
budget deficit
36. A person who works for someone else in exchange for payment.
real GDP
processing
franchising
employee
37. A country's exports minus its imports.
entrepreneurship
target market
monetary policies
balance of trade
38. Consumer goods that have a short life span - e.g. food or paper tissues.
otc drug
advertising
beneficiary
consumer non-durables
39. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).
quota
FMCG
consumer durables
assessment
40. Obstacles to international trade based on customs tariffs.
sustainability
social structure
tariff barriers
Americorps
41. Doing something (performing a process) to make a material ready for your requirments.
consumer durables
processing
inventory management
width of assortment
42. Statement of policy issued by a government which may form the basis of a future law.
social stratification
EPOS
White paper
mortgage
43. Relating to cities or built up areas - not the countryside.
department store
urban
FDI
money supply
44. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
idle capacity
upswing
store loyalty
questionable payments
45. The checking - ordering & processing of stock levels.
checkout
inventory management
retail outlet
depression
46. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.
empowerment
capital spending
sustainability
freehold
47. A retailing format that involves the coin- or card-operated dispensing of goods and services. It eliminates the use of sales personnel and allows around-the-clock sales.
statutory
dealer brands
entrepreneurship
vending machine
48. The Federal Reserve - the US central banking system.
Fed
FDI
width of assortment
mom-and-pop store
49. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
constructive economic policies
stockroom
tax haven
prime rate
50. Volunteer organization for young - disadvantaged Americans.
money supply
freehold
Americorps
monetary policies