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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 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.
consumer non-durables
mission statement
checkout
economic growth
2. 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.
not-for-profit
franchising
direct selling
budget surplus
3. 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.
open-market operations
department store
customs
target market
4. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
market equilibrium
AAA
retail outlet
recession
5. Imitating another company's ideas rather than developing your own.
prime rate
markdown
copycat
otc drug
6. Economic policies designed to support business and help it expand.
White paper
recession
constructive economic policies
negative equity
7. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
niche strategy
shelf warmer
entrepreneurship
dead stock
8. A reduction in price offered when buying an item in higher quantities.
bulk discount
myopic perspective
new capital investment
copyright
9. The violation of a law or right.
infringement
investment
freehold
allocation
10. The amount of money a person has left after paying taxes and buying necessities.
customs
shelf warmer
trademark
discretionary income
11. A period of decline in economic activity.
recession
width of assortment
monopoly
oligopoly
12. 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.
core products
fiscal policies
GDP
shareholder
13. Consumer goods that have a short life span - e.g. food or paper tissues.
tariff
new capital investment
aggregate demand
consumer non-durables
14. A government-imposed tax on imports.
CPI
supermarket
tariff
NIMBY
15. A large - long-term loan taken out to pay for a house.
Fed
consumer goods
PPP
mortgage
16. Organization for Economic Cooperation and Development
employee
OECD
customs
copyright
17. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
product differentiation
business sector
direct selling
negotiation
18. When governments try to stabilize economic activities by funding major projects from budget deficits.
open-market operations
compliance
new capital investment
deficit spending
19. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
tariff barriers
poverty line
advertising
Nominal GDP
20. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.
tax haven
self-service
FMCG
GDP
21. A period of shrinking economic activity.
store loyalty
market penetration
sanctions
downswing
22. Consumer goods that have a long life span - e.g. furniture.
business sector
consumer durables
poverty line
Green paper
23. Confederation of British Industry
stockroom
CBI
grease payments
sustainable
24. The total amount of money in circulation in a country.
money supply
stock turnover
real GDP
standard of living
25. A retailer that concentrates on selling one particular type of good.
money supply
width of assortment
intellectual property
speciality store
26. When a company reduces their output during a recession they have excess or idle capacity.
idle capacity
speciality store
restrictive economic policies
recession
27. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
loyalty card
otc drug
embargo
consumer goods
28. 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?
employee
PPP
export controls
CBD
29. Refers to the number of distinct goods or services a retailer offers.
copyright
retail outlet
width of assortment
dead stock
30. A storeroom where items which cannot be put on display are stored.
stockroom
TUC
employee
prime rate
31. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
customs
PPP
EDI
recession
32. When a small number of companies control a certain market.
prime rate
PPP
monopoly
oligopoly
33. A card payment system where the cost of goods or services is immediately removed from a bank account.
tariff barriers
debit-card system
greenfield site
money supply
34. An imitation of a product made with the intent to defraud a customer.
Fed
counterfeit
markup
supermarket
35. A retail outlet.
advertising
boom
store
constructive economic policies
36. Financial aid by the government to an individual or group to support an activity that is in the public interest.
subsidy
counterfeit
till
copyright
37. Products that can hold their own against rival products in terms of price - features or quality.
mission statement
manufacturing
dead stock
competitive
38. When the exports a country makes exceed the imports.
trade surplus
consumer durables
allocation
protectionism
39. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
product differentiation
embargo
dealer brands
mortgage
40. Obstacles to international trade other than tariffs.
non-tariff barriers
monetary policies
boom
restrictive economic policies
41. Exclusive ownership of a property for an indefinite period of time.
freehold
sustainable
inventory shrinkage
duty
42. The process of turning raw materials and parts into finished products.
manufacturing
employee
mom-and-pop store
stakeholder
43. The legal right of the owner of a work over its control and distribution.
supplier
idle capacity
copyright
tariff
44. The different layers within a society e.g. class - income - education.
niche strategy
budget surplus
social stratification
open source
45. The percentage of people who do not have a job.
unemployment rate
till
deficit spending
convenience store
46. The percentage of a household's income that is saved.
savings rate
checkout
unemployment rate
EPOS
47. The amount of wealth - money - comfort etc that a particular person - group or society has.
standard of living
customer
markup
copyright
48. Items in a store which have not sold for a longer period of time.
outsourcing
FDI
dead stock
supplier
49. Buying Power Index - a measure of a geographic area's market characteristics in terms of percentage of the US population - percentage of US retail sales and percentage of US effective buying income.
BPI
intellectual property
embargo
unemployment rate
50. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.
EPOS
AAA
idle capacity
sustainability
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