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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. An imitation of a product made with the intent to defraud a customer.
business cycle
counterfeit
prime rate
customer
2. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
mom-and-pop store
questionable payments
governance
mortgage
3. Development which can be done without harming the environment or natural resources.
business cycle
trade surplus
sustainable development
producer goods
4. Statement of policy issued by a government which may form the basis of a future law.
White paper
shareholder value
savings rate
benchmarking
5. The area of the economy that produces goods and provides services.
diversity
restrictive economic policies
shareholder
business sector
6. A range of many things or people that are very different from each other.
stock turnover
diversity
markdown
beneficiary
7. Organization for Economic Cooperation and Development
monopoly
OECD
intellectual property
Fed
8. Shows the flows of money into and out of a country plus transfer payments.
deficit spending
impulse purchase
balance of payments
urban
9. A consultation document that sets out the government's position on a certain issue.
poverty line
balance of trade
Green paper
constructive economic policies
10. 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.
market equilibrium
open source
franchising
money supply
11. When budget spending exceeds revenue.
store loyalty
bulk discount
household sector
budget deficit
12. Hiring an external company to perform tasks for a company and reduce costs.
WTO
outsourcing
PPP
currency hedging
13. Volunteer organization for young - disadvantaged Americans.
not-for-profit
Americorps
prime rate
speciality store
14. Items which a shop has and are available to buy.
EPOS
in-stock
Fed
CBD
15. An individual or company buying from someone.
customer
EPOS
market penetration
trademark
16. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
duty
negotiation
monopoly
advertising
17. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.
copyright
mom-and-pop store
market penetration
inventory shrinkage
18. 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.
capital spending
constructive economic policies
societal
NAFTA
19. The different layers within a society e.g. class - income - education.
product differentiation
stakeholder
consumer goods
social stratification
20. A person or company from whom goods or services are bought.
FDI
shelf warmer
subsidy
supplier
21. An economic sanction that forbids the import of a specific product or all products from a specific country.
open source
copyright
embargo
new capital investment
22. Doing something (performing a process) to make a material ready for your requirments.
processing
public-private partnership
product differentiation
convenience store
23. Someone who does something without being paid for it - e.g. working for a charity.
sanctions
volunteer
inventory management
markup
24. A retailer that concentrates on selling one particular type of good.
White paper
cooperative
embargo
speciality store
25. Obstacles to international trade based on customs tariffs.
shelf warmer
tariff barriers
reduced
counterfeit
26. The process of turning raw materials and parts into finished products.
allocation
chain
manufacturing
entrepreneurship
27. The number of times during a period a business sells its inventory and replaces it.
impulse purchase
automatic reordering system
CBI
inventory turnover
28. The money a state earns via taxation.
variety store
Maastricht Treaty
employee
tax revenue
29. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
societal
WTO
FMCG
questionable payments
30. Machine for processing sales - giving change in a shop or restaurant.
discontinued
depth of assortment
checkout
direct selling
31. When the exports a country makes exceed the imports.
White paper
dead stock
trade surplus
variety store
32. When the amount borrowed to pay for a home is now more than the property is actually worth.
negative equity
sustainability
currency hedging
discretionary income
33. A country's exports minus its imports.
subsidy
prime rate
balance of trade
savings rate
34. Distribution of anything for use - including time or money.
allocation
department store
sustainability
open source
35. A company's main products - e.g. Opel's core product is cars.
core products
discontinued
NAFTA
household sector
36. When governments try to stabilize economic activities by funding major projects from budget deficits.
megamall
intellectual property
deficit spending
sustainable development
37. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
standard of living
stock turnover
real GDP
unemployment rate
38. Focusing on a more specific line of products or services in comparison to competitors.
retail outlet
stakeholder
cooperative
niche strategy
39. A minimum income level below which people are officially poor.
compliance
White paper
poverty line
business cycle
40. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.
NAFTA
market skimming
benchmarking
savings rate
41. Goods bought for private use.
consumer goods
mission statement
markup
automatic reordering system
42. A period of decline in economic activity.
Americorps
recession
FMCG
supplier
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.
current account
supplier
mission statement
fake
44. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.
shareholder value
myopic perspective
shareholder
restrictive economic policies
45. A way of measuring performance by comparing a company to similar ones.
target market
variety store
downswing
benchmarking
46. A storeroom where items which cannot be put on display are stored.
stockroom
copycat
shelf warmer
franchising
47. When a company reduces their output during a recession they have excess or idle capacity.
counterfeit
infringement
idle capacity
core products
48. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.
niche strategy
stakeholder
product differentiation
sustainable
49. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).
standard of living
public-private partnership
quota
open source
50. Business wholly owned by its employees with the emphasis on group decision making.
cooperative
discontinued
inventory management
social stratification