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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. Consumer goods that have a short life span - e.g. food or paper tissues.
myopic perspective
advocacy
consumer non-durables
dealer brands
2. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.
vending machine
market penetration
sustainability
mission statement
3. Regulations that mean permission from the government is required before certain items can be exported.
standard of living
export controls
NAFTA
dead stock
4. 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.
downswing
current account
fiscal policies
greenfield site
5. An enormous planned shopping centre with hundreds of stores under one roof.
stakeholder
megamall
upswing
entrepreneurship
6. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.
restrictive economic policies
customs
subsidy
constructive economic policies
7. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
outsourcing
depth of assortment
EDI
NIMBY
8. Exclusive ownership of a property for an indefinite period of time.
trademark
infringement
inventory turnover
freehold
9. Meeting accepted guidelines or laws.
compliance
Fed
NIMBY
empowerment
10. Something that is required by law.
questionable payments
statutory
inventory management
mortgage
11. The total sum of a nation's outstanding debt.
national debt
duty
assessment
supplier
12. Agreement that provided the basis for the formation of the European Union.
new capital investment
trade surplus
Maastricht Treaty
tariff
13. When the exports a country makes exceed the imports.
constructive economic policies
NAFTA
bulk discount
trade surplus
14. A person or company from whom goods or services are bought.
mom-and-pop store
prime rate
supplier
real GDP
15. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
shelf warmer
shareholder value
NAFTA
White paper
16. An item which is no longer produced by a manufacturer or sold by a retailer.
consumer goods
discontinued
factors of production
debit-card system
17. Organization for Economic Cooperation and Development
outsourcing
OECD
restrictive economic policies
CPI
18. Shows the flows of money into and out of a country plus transfer payments.
monetary policies
subsidy
speciality store
balance of payments
19. A retail store that handles a wide variety of inexpensive and cheaply priced goods.
depth of assortment
fake
stockroom
variety store
20. Something which is a copy or imitation.
fake
otc drug
monopoly
RPI
21. A card payment system where the cost of goods or services is immediately removed from a bank account.
foreign exchange
debit-card system
store loyalty
recession
22. 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.
copycat
White paper
mission statement
sanctions
23. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
inventory shrinkage
intellectual property
stock turnover
copyright
24. A period of very high economic activity.
compliance
boom
negotiation
GDP
25. The variety of goods that a retailer sells.
new capital investment
depth of assortment
household sector
leasehold
26. Trade Union Congress.
TUC
inventory management
inventory turnover
Maastricht Treaty
27. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
employee
new capital investment
OECD
WTO
28. The violation of a law or right.
allocation
infringement
recession
business cycle
29. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
AAA
BPI
WTO
negotiation
30. A company's main products - e.g. Opel's core product is cars.
core products
checkout
Nominal GDP
societal
31. The hub of retailing in a city - where the most office buildings and retail stores are.
shareholder
stock turnover
central business district
savings rate
32. The checking - ordering & processing of stock levels.
reduced
inventory management
household sector
franchising
33. The money a state earns via taxation.
stock turnover
tax revenue
grease payments
consumer non-durables
34. When a private company provides a public service in agreement with a government or council.
dealer brands
public-private partnership
tariff barriers
manufacturing
35. Distribution of anything for use - including time or money.
OECD
EPOS
shareholder
allocation
36. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?
budget deficit
Nominal GDP
PPP
NIMBY
37. A collection of shops under one roof with a shared entrance and food area.
sanctions
fiscal policies
GDP
shopping centre
38. Machine for processing sales - taking payments - giving change. Also know as a cash register.
market skimming
till
inventory management
duty
39. The rare situation when budget spending is smaller than revenue.
leasehold
societal
mortgage
budget surplus
40. System in which good or services are exchanged for other goods or services rather than cash.
shareholder
NIMBY
barter
competitive
41. 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.
consumer durables
current account
store loyalty
household sector
42. A period where there is little economic activity - high unemployment and much poverty.
depression
supply chain
investment
RPI
43. The resources used to produce goods and services - including land - labour - business and capital.
factors of production
myopic perspective
currency hedging
NIMBY
44. Consumer goods that have a long life span - e.g. furniture.
impulse purchase
consumer durables
restrictive economic policies
self-service
45. The buying and selling of government securities by a central bank in order to control the money supply.
stockroom
open-market operations
otc drug
quota
46. An area of land which has never been built on.
megamall
FDI
counterfeit
greenfield site
47. A large - long-term loan taken out to pay for a house.
subsidy
mortgage
idle capacity
depth of assortment
48. When governments try to stabilize economic activities by funding major projects from budget deficits.
volunteer
deficit spending
monopoly
supermarket
49. An owner of shares or stocks in a company.
current account
core products
shareholder
business cycle
50. The area of the economy that produces goods and provides services.
negotiation
business sector
White paper
questionable payments