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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. Trade Union Congress.
advocacy
supply chain
business sector
TUC
2. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
FMCG
empowerment
budget deficit
dealer brands
3. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
consumer durables
White paper
inventory shrinkage
product differentiation
4. Process of communicating back and forth until an agreement has been reached.
myopic perspective
intellectual property
negotiation
advertising
5. 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
consumer goods
oligopoly
investment
6. 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.
infringement
manufacturing
vending machine
freehold
7. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
grease payments
protectionism
tax haven
business cycle
8. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
monopoly
NIMBY
market penetration
social structure
9. Machine for processing sales - taking payments - giving change. Also know as a cash register.
checkout
new capital investment
till
stock turnover
10. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
direct selling
sustainable development
mission statement
infringement
11. A person or organization which receives money from a charity.
urban
Nominal GDP
beneficiary
allocation
12. Multiple retail units under common ownership.
market skimming
sustainability
real GDP
chain
13. A period of decline in economic activity.
standard of living
in-stock
WTO
recession
14. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.
in-stock
household sector
sustainability
mission statement
15. The total sum of a nation's outstanding debt.
real GDP
national debt
copyright
AFL/CIO
16. When governments try to stabilize economic activities by funding major projects from budget deficits.
deficit spending
copyright
AAA
embargo
17. Something that is bought without being planned for.
idle capacity
business cycle
impulse purchase
franchising
18. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
currency hedging
OECD
unemployment rate
greenbelt
19. Items which a shop has and are available to buy.
recession
in-stock
FMCG
supplier
20. The percentage of people who do not have a job.
unemployment rate
processing
money supply
till
21. The buying and selling of government securities by a central bank in order to control the money supply.
inventory
dealer brands
open-market operations
stakeholder
22. The legal right of the owner of a work over its control and distribution.
BPI
allocation
product differentiation
copyright
23. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.
shopping centre
economic growth
store loyalty
infringement
24. Payments made like a bribe to encourage an official to allow something or get something done.
grease payments
vending machine
economic growth
stock turnover
25. A retail store that handles a wide variety of inexpensive and cheaply priced goods.
variety store
shelf warmer
volunteer
negative equity
26. A person or company from whom goods or services are bought.
supplier
negative equity
subsidy
volunteer
27. The Federal Reserve - the US central banking system.
aggregate demand
market equilibrium
Fed
loyalty card
28. Goods bought for private use.
RPI
depth of assortment
consumer goods
budget surplus
29. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
real GDP
market penetration
store
Fed
30. A retailer that concentrates on selling one particular type of good.
market equilibrium
trade deficit
assessment
speciality store
31. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
household sector
otc drug
urban
impulse purchase
32. Giving people the freedom to decide things and take responsibility for themselves.
restrictive economic policies
Fed
supplier
empowerment
33. Products that can hold their own against rival products in terms of price - features or quality.
currency hedging
balance of trade
market skimming
competitive
34. Focusing on a more specific line of products or services in comparison to competitors.
economic growth
savings rate
trade surplus
niche strategy
35. When the exports a country makes exceed the imports.
trade surplus
automatic reordering system
open-market operations
vending machine
36. The number of times during a period a business sells its inventory and replaces it.
inventory turnover
balance of payments
subsidy
national debt
37. The hub of retailing in a city - where the most office buildings and retail stores are.
central business district
markdown
copycat
processing
38. 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
oligopoly
deficit spending
current account
39. When budget spending exceeds revenue.
urban
target market
budget deficit
sustainability
40. When a customer regularly uses a store they know - like and trust.
store loyalty
over the counter drug
processing
market equilibrium
41. Consumer goods that have a short life span - e.g. food or paper tissues.
consumer non-durables
consumer goods
myopic perspective
inventory shrinkage
42. A retail outlet.
store loyalty
store
prime rate
consumer goods
43. Refers to the number of distinct goods or services a retailer offers.
mom-and-pop store
money supply
width of assortment
unemployment rate
44. Doing something (performing a process) to make a material ready for your requirments.
processing
vending machine
household sector
discretionary income
45. System in which good or services are exchanged for other goods or services rather than cash.
barter
money supply
copyright
inventory shrinkage
46. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.
BPI
market penetration
governance
monopoly
47. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).
quota
boom
sustainability
speciality store
48. Regular fluctuations in overall economic activity over time.
customs
stakeholder
business cycle
export controls
49. The way in which a company is controlled.
Americorps
CBI
governance
employee
50. The violation of a law or right.
EPOS
money supply
counterfeit
infringement