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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. Payments made like a bribe to encourage an official to allow something or get something done.
copyright
balance of trade
grease payments
negative equity
2. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
governance
otc drug
compliance
FMCG
3. A country's exports minus its imports.
Nominal GDP
balance of trade
questionable payments
public-private partnership
4. A person or organization which receives money from a charity.
beneficiary
deficit spending
sustainability
NAFTA
5. 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
self-service
consumer goods
otc drug
6. Regulations that mean permission from the government is required before certain items can be exported.
AFL/CIO
NAFTA
export controls
over the counter drug
7. The way in which a company is controlled.
discretionary income
product differentiation
budget surplus
governance
8. Value of the entire company as expressed by its market capitalization.
sustainability
infringement
shareholder value
household sector
9. The number of times during a period a business sells its inventory and replaces it.
economic growth
inventory turnover
vending machine
new capital investment
10. Machine for processing sales - taking payments - giving change. Also know as a cash register.
mortgage
till
market skimming
cooperative
11. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.
Nominal GDP
trade surplus
store loyalty
export controls
12. An imitation of a product made with the intent to defraud a customer.
automatic reordering system
balance of trade
counterfeit
Americorps
13. Items in a store which have not sold for a longer period of time.
dead stock
trade deficit
consumer non-durables
urban
14. The different layers within a society e.g. class - income - education.
AFL/CIO
social stratification
blight
dead stock
15. Distribution of anything for use - including time or money.
self-service
impulse purchase
allocation
assessment
16. When a company reduces their output during a recession they have excess or idle capacity.
social stratification
competitive
idle capacity
inventory
17. A retailer that concentrates on selling one particular type of good.
mortgage
store
store loyalty
speciality store
18. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.
reduced
market penetration
customs
protectionism
19. Meeting accepted guidelines or laws.
compliance
manufacturing
beneficiary
producer goods
20. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
counterfeit
standard of living
store
otc drug
21. An item which is no longer produced by a manufacturer or sold by a retailer.
copyright
market skimming
new capital investment
discontinued
22. A voluntary sector or charity sector organization.
greenbelt
not-for-profit
store loyalty
deficit spending
23. Buying currency options that fix exchange rates for a period of time.
currency hedging
FMCG
allocation
niche strategy
24. The rare situation when budget spending is smaller than revenue.
upswing
budget surplus
in-stock
FMCG
25. The resources used to produce goods and services - including land - labour - business and capital.
EDI
reduced
factors of production
budget surplus
26. A medicine which is available without first getting a prescription from a doctor.
depth of assortment
self-service
foreign exchange
over the counter drug
27. A card payment system where the cost of goods or services is immediately removed from a bank account.
monopoly
debit-card system
open source
tariff barriers
28. Shows the flows of money into and out of a country plus transfer payments.
balance of payments
monopoly
poverty line
target market
29. Business wholly owned by its employees with the emphasis on group decision making.
volunteer
market skimming
franchising
cooperative
30. A tax imposed on imports by the customs authority of a country.
monetary policies
dealer brands
non-tariff barriers
duty
31. Refers to the number of distinct goods or services a retailer offers.
discontinued
household sector
width of assortment
market equilibrium
32. The hub of retailing in a city - where the most office buildings and retail stores are.
balance of payments
central business district
negative equity
depression
33. Sets of specific restraints imposed by governments on international trade.
NAFTA
allocation
sanctions
PPP
34. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.
bulk discount
sustainability
infringement
questionable payments
35. 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.
manufacturing
mission statement
CPI
megamall
36. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
tax revenue
competitive
supplier
NIMBY
37. The total sum of goods and services in demand.
discontinued
aggregate demand
assessment
poverty line
38. A company's main products - e.g. Opel's core product is cars.
core products
subsidy
balance of payments
product differentiation
39. Government policies to cool down an economy and prevent inflation during boom periods.
questionable payments
restrictive economic policies
greenbelt
bulk discount
40. A range of many things or people that are very different from each other.
diversity
BPI
self-service
duty
41. A storeroom where items which cannot be put on display are stored.
stockroom
department store
discretionary income
societal
42. When a private company provides a public service in agreement with a government or council.
quota
WTO
assessment
public-private partnership
43. A retail outlet.
oligopoly
advertising
TUC
store
44. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
diversity
loyalty card
tariff
factors of production
45. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
processing
public-private partnership
negative equity
market skimming
46. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
loyalty card
EDI
niche strategy
consumer non-durables
47. A computerised stock-control system which reorders stock automatically when it reaches a certain level.
automatic reordering system
vending machine
trade deficit
questionable payments
48. An extremely adverse environmental condition.
intellectual property
blight
business sector
supplier
49. An economic sanction that forbids the import of a specific product or all products from a specific country.
oligopoly
embargo
monopoly
product differentiation
50. When governments try to stabilize economic activities by funding major projects from budget deficits.
deficit spending
competitive
inventory shrinkage
RPI