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Test your basic knowledge |
Business English Vocab Test
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Subjects
:
business-skills
,
english
,
vocabulary
Instructions:
Answer 50 questions in 15 minutes.
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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 economic sanction that forbids the import of a specific product or all products from a specific country.
advertising
consumer durables
myopic perspective
embargo
2. When a small number of companies control a certain market.
capital spending
niche strategy
oligopoly
sustainable development
3. Buying currency options that fix exchange rates for a period of time.
trademark
subsidy
constructive economic policies
currency hedging
4. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
balance of payments
Nominal GDP
oligopoly
market penetration
5. Products that can hold their own against rival products in terms of price - features or quality.
consumer durables
competitive
producer goods
in-stock
6. A government-imposed tax on imports.
real GDP
tariff
consumer durables
impulse purchase
7. Something that is bought without being planned for.
impulse purchase
processing
real GDP
national debt
8. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
depth of assortment
balance of payments
trade deficit
GDP
9. A period where there is little economic activity - high unemployment and much poverty.
prime rate
depression
boom
mom-and-pop store
10. A reduction in price offered when buying an item in higher quantities.
bulk discount
department store
money supply
subsidy
11. The checking - ordering & processing of stock levels.
leasehold
business sector
inventory management
entrepreneurship
12. Economic policies designed to support business and help it expand.
TUC
PPP
constructive economic policies
advertising
13. A company's main products - e.g. Opel's core product is cars.
core products
negative equity
BPI
upswing
14. Connected with society and the way it is organized.
societal
supermarket
tax revenue
barter
15. When the amount borrowed to pay for a home is now more than the property is actually worth.
negative equity
chain
AAA
governance
16. Payments made like a bribe to encourage an official to allow something or get something done.
entrepreneurship
downswing
grease payments
consumer durables
17. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
depression
standard of living
WTO
shelf warmer
18. A consultation document that sets out the government's position on a certain issue.
Green paper
myopic perspective
public-private partnership
otc drug
19. A tax imposed on imports by the customs authority of a country.
bulk discount
sustainable development
duty
grease payments
20. Organization for Economic Cooperation and Development
questionable payments
OECD
trademark
foreign exchange
21. A retail store that handles a wide variety of inexpensive and cheaply priced goods.
counterfeit
advocacy
variety store
tariff barriers
22. A computerised stock-control system which reorders stock automatically when it reaches a certain level.
savings rate
Maastricht Treaty
automatic reordering system
open source
23. When a customer regularly uses a store they know - like and trust.
store loyalty
stock turnover
embargo
impulse purchase
24. The amount of money a person has left after paying taxes and buying necessities.
retail outlet
NIMBY
shelf warmer
discretionary income
25. Relating to cities or built up areas - not the countryside.
statutory
CPI
freehold
urban
26. The difference between merchandise costs and retail selling price.
markup
tax revenue
store loyalty
CPI
27. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.
stockroom
core products
assessment
stakeholder
28. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
discontinued
retail outlet
AAA
cooperative
29. The skills and knowledge needed to start and run a company.
discontinued
competitive
sanctions
entrepreneurship
30. The variety of goods that a retailer sells.
EDI
GDP
depth of assortment
Nominal GDP
31. A person who works for someone else in exchange for payment.
business sector
consumer durables
otc drug
employee
32. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
otc drug
debit-card system
protectionism
BPI
33. Distribution of anything for use - including time or money.
open-market operations
allocation
speciality store
impulse purchase
34. A voluntary sector or charity sector organization.
national debt
not-for-profit
store
TUC
35. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
benchmarking
customer
copycat
greenbelt
36. Someone who does something without being paid for it - e.g. working for a charity.
shelf warmer
FMCG
volunteer
self-service
37. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.
customs
inventory
market skimming
societal
38. Doing something (performing a process) to make a material ready for your requirments.
processing
copycat
copyright
TUC
39. The legal right of the owner of a work over its control and distribution.
empowerment
copyright
Green paper
PPP
40. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
dealer brands
CBI
barter
PPP
41. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
market equilibrium
TUC
investment
monopoly
42. Shows the flows of money into and out of a country plus transfer payments.
fiscal policies
retail outlet
balance of payments
export controls
43. Obstacles to international trade other than tariffs.
non-tariff barriers
Green paper
currency hedging
employee
44. Volunteer organization for young - disadvantaged Americans.
central business district
idle capacity
Americorps
consumer non-durables
45. Sets of specific restraints imposed by governments on international trade.
NIMBY
sanctions
export controls
deficit spending
46. The different layers within a society e.g. class - income - education.
social stratification
advertising
discontinued
restrictive economic policies
47. A small owner-operated store serving a local community.
social structure
mom-and-pop store
dead stock
CBD
48. Something which is a copy or imitation.
FMCG
social stratification
store
fake
49. 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.
depression
market penetration
capital spending
consumer durables
50. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
WTO
shareholder value
capital spending
Nominal GDP
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