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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. The different layers within a society e.g. class - income - education.
shopping centre
mission statement
shelf warmer
social stratification
2. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
RPI
tariff barriers
real GDP
franchising
3. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.
dead stock
Nominal GDP
export controls
myopic perspective
4. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
vending machine
direct selling
retail outlet
oligopoly
5. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
duty
NGOs
vending machine
EDI
6. A period of shrinking economic activity.
markdown
myopic perspective
downswing
budget deficit
7. Exclusive ownership of a property for an indefinite period of time.
freehold
societal
manufacturing
questionable payments
8. Economic policies designed to support business and help it expand.
benchmarking
manufacturing
constructive economic policies
target market
9. How companies try to show their products as being different from those of their rivals.
negotiation
stock turnover
NAFTA
product differentiation
10. When governments try to stabilize economic activities by funding major projects from budget deficits.
shelf warmer
deficit spending
store loyalty
Maastricht Treaty
11. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
EDI
convenience store
variety store
vending machine
12. The hub of retailing in a city - where the most office buildings and retail stores are.
grease payments
public-private partnership
central business district
tariff barriers
13. A minimum income level below which people are officially poor.
negative equity
core products
cooperative
poverty line
14. A person who works for someone else in exchange for payment.
consumer durables
shareholder value
mission statement
employee
15. 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.
current account
reduced
counterfeit
social structure
16. 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?
social stratification
open-market operations
PPP
inventory shrinkage
17. The difference between merchandise costs and retail selling price.
markup
entrepreneurship
greenbelt
OECD
18. Someone who does something without being paid for it - e.g. working for a charity.
poverty line
blight
volunteer
social stratification
19. 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
product differentiation
social stratification
supermarket
20. A large retail unit selling a wide variety of goods in separate departments.
department store
outsourcing
societal
aggregate demand
21. A small owner-operated store serving a local community.
NGOs
automatic reordering system
mom-and-pop store
tax haven
22. Items which a shop has and are available to buy.
impulse purchase
governance
negative equity
in-stock
23. Goods bought and used by companies - such as machines. Also known as capital goods.
producer goods
dead stock
household sector
public-private partnership
24. Obstacles to international trade based on customs tariffs.
otc drug
core products
societal
tariff barriers
25. Consumer goods that have a long life span - e.g. furniture.
megamall
Americorps
copyright
consumer durables
26. The total sum of goods and services in demand.
shareholder value
statutory
societal
aggregate demand
27. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.
public-private partnership
OECD
tariff
economic growth
28. Economic policies that use money e.g. interest rates or money supply as the major instruments.
monetary policies
niche strategy
constructive economic policies
direct selling
29. 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.
processing
stock turnover
mission statement
sustainable
30. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.
FDI
till
unemployment rate
foreign exchange
31. An individual or company buying from someone.
questionable payments
customer
product differentiation
stock turnover
32. A reduction in price offered when buying an item in higher quantities.
employee
FMCG
tax revenue
bulk discount
33. A voluntary sector or charity sector organization.
mission statement
EDI
monopoly
not-for-profit
34. Machine for processing sales - taking payments - giving change. Also know as a cash register.
supply chain
budget surplus
till
negative equity
35. When a customer regularly uses a store they know - like and trust.
store loyalty
retail outlet
oligopoly
central business district
36. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.
budget surplus
money supply
NAFTA
upswing
37. Distribution of anything for use - including time or money.
bulk discount
monetary policies
allocation
tariff
38. The money a state earns via taxation.
duty
markdown
balance of payments
tax revenue
39. The right to live in a home on a long-term tenancy.
oligopoly
freehold
societal
leasehold
40. When a private company provides a public service in agreement with a government or council.
public-private partnership
factors of production
market penetration
markdown
41. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
variety store
FMCG
WTO
prime rate
42. Doing something (performing a process) to make a material ready for your requirments.
manufacturing
market equilibrium
markdown
processing
43. Something that is bought without being planned for.
unemployment rate
convenience store
impulse purchase
dead stock
44. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
oligopoly
consumer goods
household sector
current account
45. The buying and selling of government securities by a central bank in order to control the money supply.
market penetration
open-market operations
depth of assortment
oligopoly
46. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).
customer
copycat
quota
sustainable
47. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
inventory
market skimming
FMCG
supermarket
48. Regulations that mean permission from the government is required before certain items can be exported.
public-private partnership
barter
export controls
sustainability
49. The Federal Reserve - the US central banking system.
Nominal GDP
capital spending
OECD
Fed
50. Machine for processing sales - giving change in a shop or restaurant.
leasehold
checkout
Americorps
niche strategy