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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 individual or company buying from someone.
supplier
customer
Maastricht Treaty
depression
2. Organization for Economic Cooperation and Development
real GDP
Nominal GDP
OECD
checkout
3. The total sum of a nation's outstanding debt.
national debt
budget surplus
customer
convenience store
4. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
duty
White paper
market skimming
tax revenue
5. Regular fluctuations in overall economic activity over time.
currency hedging
till
consumer non-durables
business cycle
6. When a customer regularly uses a store they know - like and trust.
current account
grease payments
store loyalty
money supply
7. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.
currency hedging
budget deficit
recession
stakeholder
8. Regulations that mean permission from the government is required before certain items can be exported.
mission statement
trade deficit
beneficiary
export controls
9. Statement of policy issued by a government which may form the basis of a future law.
consumer goods
empowerment
White paper
negative equity
10. The support of a cause.
advocacy
capital spending
budget surplus
consumer goods
11. An economic sanction that forbids the import of a specific product or all products from a specific country.
CBI
inventory
markdown
embargo
12. A card payment system where the cost of goods or services is immediately removed from a bank account.
discontinued
budget deficit
debit-card system
diversity
13. The hub of retailing in a city - where the most office buildings and retail stores are.
employee
balance of payments
central business district
otc drug
14. The amount of wealth - money - comfort etc that a particular person - group or society has.
standard of living
foreign exchange
upswing
AAA
15. When a company reduces their output during a recession they have excess or idle capacity.
franchising
idle capacity
trade deficit
beneficiary
16. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
capital spending
till
otc drug
vending machine
17. When the amount borrowed to pay for a home is now more than the property is actually worth.
empowerment
constructive economic policies
retail outlet
negative equity
18. The system of organizations involved in moving a product from manufacturer to customer.
questionable payments
budget surplus
consumer non-durables
supply chain
19. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
NIMBY
in-stock
empowerment
RPI
20. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
inventory
central business district
duty
loyalty card
21. How companies try to show their products as being different from those of their rivals.
CPI
product differentiation
myopic perspective
monetary policies
22. The purchase of a financial product or other item of value with the hope that it will become more valuable.
EPOS
investment
real GDP
social structure
23. A way of measuring performance by comparing a company to similar ones.
monetary policies
tariff barriers
benchmarking
variety store
24. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.
markdown
self-service
foreign exchange
variety store
25. Someone who does something without being paid for it - e.g. working for a charity.
volunteer
barter
depression
protectionism
26. Giving people the freedom to decide things and take responsibility for themselves.
factors of production
otc drug
empowerment
counterfeit
27. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
NIMBY
AAA
counterfeit
consumer goods
28. Development which can be done without harming the environment or natural resources.
variety store
grease payments
sustainable development
width of assortment
29. A voluntary sector or charity sector organization.
sustainable
not-for-profit
otc drug
depression
30. When a price has been cut.
reduced
aggregate demand
RPI
shopping centre
31. An extremely adverse environmental condition.
urban
duty
savings rate
blight
32. The amount of money a person has left after paying taxes and buying necessities.
discretionary income
BPI
fake
self-service
33. Products that can hold their own against rival products in terms of price - features or quality.
copyright
constructive economic policies
investment
competitive
34. Multiple retail units under common ownership.
savings rate
chain
market skimming
markdown
35. 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
employee
megamall
budget surplus
36. Value of the entire company as expressed by its market capitalization.
shareholder value
CBI
trade surplus
processing
37. Meeting accepted guidelines or laws.
compliance
unemployment rate
width of assortment
blight
38. The skills and knowledge needed to start and run a company.
entrepreneurship
open-market operations
manufacturing
EDI
39. A shop or store.
retail outlet
bulk discount
tax haven
advertising
40. A period of economic expansion.
upswing
quota
outsourcing
central business district
41. The difference between merchandise costs and retail selling price.
recession
RPI
markup
vending machine
42. A person or company from whom goods or services are bought.
savings rate
supplier
aggregate demand
duty
43. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
CPI
supply chain
checkout
monetary policies
44. A period of very high economic activity.
trade deficit
advertising
boom
currency hedging
45. Financial aid by the government to an individual or group to support an activity that is in the public interest.
depression
entrepreneurship
greenbelt
subsidy
46. Obstacles to international trade other than tariffs.
negotiation
TUC
non-tariff barriers
copyright
47. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
PPP
embargo
NGOs
stockroom
48. Patterns of relationships between different groups of society.
discretionary income
TUC
manufacturing
social structure
49. Items which a shop has and are available to buy.
sustainability
in-stock
shelf warmer
stock turnover
50. Something that is required by law.
open-market operations
market penetration
monopoly
statutory