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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. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.
market penetration
franchising
EDI
monetary policies
2. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
employee
width of assortment
protectionism
trade surplus
3. Machine for processing sales - giving change in a shop or restaurant.
checkout
store
boom
market skimming
4. Organization for Economic Cooperation and Development
constructive economic policies
duty
OECD
width of assortment
5. The rare situation when budget spending is smaller than revenue.
budget surplus
shelf warmer
subsidy
poverty line
6. The skills and knowledge needed to start and run a company.
aggregate demand
unemployment rate
entrepreneurship
assessment
7. Exclusive ownership of a property for an indefinite period of time.
supermarket
copyright
freehold
loyalty card
8. Multiple retail units under common ownership.
chain
target market
embargo
trademark
9. When the exports a country makes exceed the imports.
TUC
trade surplus
department store
competitive
10. The process of turning raw materials and parts into finished products.
dealer brands
manufacturing
variety store
business cycle
11. When a company reduces their output during a recession they have excess or idle capacity.
fake
idle capacity
sanctions
sustainable development
12. The number of times during a period a business sells its inventory and replaces it.
inventory turnover
FMCG
social structure
constructive economic policies
13. The resources used to produce goods and services - including land - labour - business and capital.
boom
factors of production
monopoly
cooperative
14. The total amount of money in circulation in a country.
target market
RPI
open-market operations
money supply
15. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
aggregate demand
capital spending
dealer brands
trade deficit
16. Value of the entire company as expressed by its market capitalization.
restrictive economic policies
business sector
shareholder value
employee
17. A period of shrinking economic activity.
new capital investment
downswing
competitive
market equilibrium
18. Items which a shop has and are available to buy.
PPP
in-stock
competitive
leasehold
19. Trade Union Congress.
social structure
TUC
BPI
bulk discount
20. The percentage of a household's income that is saved.
convenience store
Nominal GDP
vending machine
savings rate
21. When a small number of companies control a certain market.
shareholder
trademark
oligopoly
FMCG
22. Hiring an external company to perform tasks for a company and reduce costs.
width of assortment
benchmarking
national debt
outsourcing
23. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
factors of production
EDI
CBI
tax haven
24. A medicine which is available without first getting a prescription from a doctor.
over the counter drug
national debt
CBI
beneficiary
25. A retailing format that involves the coin- or card-operated dispensing of goods and services. It eliminates the use of sales personnel and allows around-the-clock sales.
empowerment
vending machine
grease payments
TUC
26. The customer group a retailer wants to attract and satisfy.
Maastricht Treaty
target market
BPI
empowerment
27. A country's exports minus its imports.
balance of trade
questionable payments
negative equity
AAA
28. When the amount borrowed to pay for a home is now more than the property is actually worth.
business cycle
negative equity
inventory
empowerment
29. Patterns of relationships between different groups of society.
social structure
competitive
store
consumer durables
30. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
trademark
RPI
boom
central business district
31. A period of decline in economic activity.
franchising
consumer non-durables
FMCG
recession
32. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.
markdown
stakeholder
outsourcing
inventory management
33. The violation of a law or right.
infringement
copycat
urban
sanctions
34. The right to live in a home on a long-term tenancy.
central business district
entrepreneurship
leasehold
societal
35. When a private company provides a public service in agreement with a government or council.
public-private partnership
advocacy
new capital investment
capital spending
36. A retailer that concentrates on selling one particular type of good.
automatic reordering system
speciality store
debit-card system
investment
37. Government policies to cool down an economy and prevent inflation during boom periods.
blight
restrictive economic policies
national debt
urban
38. A period where there is little economic activity - high unemployment and much poverty.
foreign exchange
leasehold
depression
greenfield site
39. The total sum of goods and services in demand.
aggregate demand
RPI
variety store
OECD
40. 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.
statutory
current account
budget deficit
inventory
41. The rate of interest at which US banks lend money to their best corporate customers.
prime rate
quota
WTO
sustainability
42. Payments made like a bribe to encourage an official to allow something or get something done.
grease payments
business cycle
economic growth
barter
43. Obstacles to international trade other than tariffs.
retail outlet
non-tariff barriers
discretionary income
department store
44. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.
allocation
trade surplus
questionable payments
inventory
45. The variety of goods that a retailer sells.
standard of living
OECD
balance of trade
depth of assortment
46. A large retail unit selling a wide variety of goods in separate departments.
department store
producer goods
downswing
OECD
47. Imitating another company's ideas rather than developing your own.
questionable payments
copycat
entrepreneurship
EPOS
48. A large - long-term loan taken out to pay for a house.
mortgage
niche strategy
copyright
impulse purchase
49. Items in a store which have not sold for a longer period of time.
dead stock
target market
monetary policies
diversity
50. Giving people the freedom to decide things and take responsibility for themselves.
greenbelt
empowerment
negative equity
retail outlet