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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. How companies try to show their products as being different from those of their rivals.
product differentiation
markup
urban
savings rate
2. 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.
standard of living
embargo
capital spending
poverty line
3. The legal right of the owner of a work over its control and distribution.
monopoly
copyright
poverty line
copycat
4. Announcing that a product is for sale - trying to persuade customers to buy a product or service.
market equilibrium
recession
advertising
processing
5. Regulations that mean permission from the government is required before certain items can be exported.
new capital investment
export controls
CBI
FMCG
6. Consumer goods that have a short life span - e.g. food or paper tissues.
stockroom
consumer non-durables
NIMBY
direct selling
7. Organization for Economic Cooperation and Development
OECD
reduced
AAA
AFL/CIO
8. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
outsourcing
sustainable
fiscal policies
NGOs
9. The system of organizations involved in moving a product from manufacturer to customer.
supply chain
allocation
retail outlet
target market
10. An economic sanction that forbids the import of a specific product or all products from a specific country.
diversity
counterfeit
embargo
CBI
11. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
GDP
monopoly
AAA
supplier
12. A retailer that concentrates on selling one particular type of good.
speciality store
negative equity
sanctions
NGOs
13. The variety of goods that a retailer sells.
tax revenue
negotiation
depth of assortment
tax haven
14. A consultation document that sets out the government's position on a certain issue.
department store
loyalty card
Green paper
stock turnover
15. Statement of policy issued by a government which may form the basis of a future law.
White paper
processing
BPI
benchmarking
16. The right to live in a home on a long-term tenancy.
stock turnover
FDI
leasehold
WTO
17. An individual or company buying from someone.
customer
discretionary income
tax haven
blight
18. The rare situation when budget spending is smaller than revenue.
open-market operations
self-service
budget surplus
greenbelt
19. A system where a company allows someone to run a specific business using the company's products or brand in exchange for a fee or share of the profits - McDonalds is a famous franchise.
franchising
infringement
inventory
market equilibrium
20. The number of times during a period a business sells its inventory and replaces it.
statutory
mom-and-pop store
inventory turnover
boom
21. Goods bought for private use.
capital spending
dealer brands
consumer goods
CPI
22. A reduction in the selling price of an item in order to increase sales.
RPI
markdown
niche strategy
in-stock
23. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
freehold
tax haven
embargo
unemployment rate
24. The total sum of goods and services in demand.
aggregate demand
CPI
impulse purchase
advertising
25. A person or organization which receives money from a charity.
greenbelt
beneficiary
customs
megamall
26. When the exports a country makes exceed the imports.
trade surplus
EPOS
producer goods
supply chain
27. A way of measuring performance by comparing a company to similar ones.
CPI
inventory
benchmarking
fake
28. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.
urban
myopic perspective
economic growth
restrictive economic policies
29. Payments made like a bribe to encourage an official to allow something or get something done.
impulse purchase
CBD
grease payments
monopoly
30. Exclusive ownership of a property for an indefinite period of time.
EDI
markup
inventory turnover
freehold
31. A reduction in price offered when buying an item in higher quantities.
mom-and-pop store
bulk discount
consumer goods
PPP
32. An imitation of a product made with the intent to defraud a customer.
counterfeit
markup
deficit spending
product differentiation
33. The skills and knowledge needed to start and run a company.
investment
entrepreneurship
barter
tax haven
34. An item which is no longer produced by a manufacturer or sold by a retailer.
target market
grease payments
discontinued
diversity
35. Consumer goods that have a long life span - e.g. furniture.
shareholder
mission statement
depression
consumer durables
36. An owner of shares or stocks in a company.
shareholder
oligopoly
inventory management
factors of production
37. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
boom
volunteer
WTO
non-tariff barriers
38. The money a state earns via taxation.
White paper
in-stock
money supply
tax revenue
39. The percentage of a household's income that is saved.
savings rate
assessment
myopic perspective
market equilibrium
40. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
downswing
non-tariff barriers
shelf warmer
trade surplus
41. Multiple retail units under common ownership.
stock turnover
megamall
negative equity
chain
42. Products that can hold their own against rival products in terms of price - features or quality.
markdown
discontinued
competitive
depression
43. 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.
mission statement
speciality store
NGOs
leasehold
44. Process of communicating back and forth until an agreement has been reached.
subsidy
CBD
negotiation
boom
45. A tax imposed on imports by the customs authority of a country.
CBD
shareholder
duty
capital spending
46. A small owner-operated store serving a local community.
mom-and-pop store
store
consumer non-durables
empowerment
47. System in which good or services are exchanged for other goods or services rather than cash.
store loyalty
employee
market skimming
barter
48. Usually software where the source code is made freely available for all users to change as they see fit.
NGOs
self-service
department store
open source
49. Something that is required by law.
business sector
market penetration
EPOS
statutory
50. A self-service food store with grocery - meat and produce departments.
freehold
supermarket
WTO
advocacy