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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. Patterns of relationships between different groups of society.
social structure
EDI
market equilibrium
discretionary income
2. A voluntary sector or charity sector organization.
reduced
Green paper
AFL/CIO
not-for-profit
3. Something which is a copy or imitation.
household sector
fake
store
markup
4. Sets of specific restraints imposed by governments on international trade.
Green paper
consumer durables
otc drug
sanctions
5. Consumer goods that have a short life span - e.g. food or paper tissues.
consumer non-durables
PPP
export controls
budget deficit
6. A period where there is little economic activity - high unemployment and much poverty.
depression
consumer durables
sustainability
intellectual property
7. An economic sanction that forbids the import of a specific product or all products from a specific country.
competitive
dead stock
embargo
inventory management
8. Something that is bought without being planned for.
sustainable development
new capital investment
impulse purchase
leasehold
9. An imitation of a product made with the intent to defraud a customer.
FDI
counterfeit
chain
FMCG
10. The number of times during a period a business sells its inventory and replaces it.
greenfield site
inventory turnover
assessment
budget surplus
11. A retail store that handles a wide variety of inexpensive and cheaply priced goods.
variety store
national debt
direct selling
CBD
12. Focusing on a more specific line of products or services in comparison to competitors.
monetary policies
customs
household sector
niche strategy
13. Exclusive ownership of a property for an indefinite period of time.
core products
customs
shareholder
freehold
14. A computerised stock-control system which reorders stock automatically when it reaches a certain level.
niche strategy
core products
standard of living
automatic reordering system
15. The legal right of the owner of a work over its control and distribution.
copyright
consumer non-durables
TUC
sustainability
16. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
White paper
market penetration
prime rate
WTO
17. A consultation document that sets out the government's position on a certain issue.
Green paper
monetary policies
inventory
tax haven
18. Value of the entire company as expressed by its market capitalization.
CBD
shareholder value
depression
embargo
19. Connected with society and the way it is organized.
currency hedging
shareholder
tariff barriers
societal
20. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
blight
EDI
employee
factors of production
21. Doing something (performing a process) to make a material ready for your requirments.
processing
dead stock
statutory
mission statement
22. 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.
till
deficit spending
current account
sustainability
23. A person or company from whom goods or services are bought.
supplier
export controls
mortgage
CBI
24. A card payment system where the cost of goods or services is immediately removed from a bank account.
over the counter drug
debit-card system
reduced
cooperative
25. Organization for Economic Cooperation and Development
OECD
foreign exchange
niche strategy
sustainable
26. The variety of goods that a retailer sells.
societal
grease payments
volunteer
depth of assortment
27. When a customer regularly uses a store they know - like and trust.
customer
depth of assortment
store loyalty
open source
28. Process of communicating back and forth until an agreement has been reached.
current account
NAFTA
bulk discount
negotiation
29. The checking - ordering & processing of stock levels.
shareholder value
assessment
business cycle
inventory management
30. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
EDI
tax haven
Nominal GDP
greenfield site
31. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.
economic growth
supply chain
GDP
factors of production
32. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
current account
household sector
inventory shrinkage
CBI
33. 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?
embargo
PPP
manufacturing
new capital investment
34. The total amount of money in circulation in a country.
upswing
sustainable development
stakeholder
money supply
35. A medicine which is available without first getting a prescription from a doctor.
over the counter drug
social stratification
producer goods
monetary policies
36. A reduction in the selling price of an item in order to increase sales.
producer goods
markdown
greenfield site
prime rate
37. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
markdown
otc drug
aggregate demand
vending machine
38. Business wholly owned by its employees with the emphasis on group decision making.
checkout
cooperative
current account
idle capacity
39. A storeroom where items which cannot be put on display are stored.
social structure
real GDP
stockroom
intellectual property
40. The right to live in a home on a long-term tenancy.
till
leasehold
unemployment rate
inventory management
41. Confederation of British Industry
savings rate
CBI
WTO
GDP
42. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
protectionism
standard of living
self-service
franchising
43. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.
barter
protectionism
national debt
FMCG
44. Machine for processing sales - taking payments - giving change. Also know as a cash register.
standard of living
blight
sustainable
till
45. An extremely adverse environmental condition.
White paper
blight
employee
assessment
46. Economic policies that use money e.g. interest rates or money supply as the major instruments.
CPI
monetary policies
investment
AAA
47. A government-imposed tax on imports.
OECD
customer
customs
tariff
48. Payments made like a bribe to encourage an official to allow something or get something done.
diversity
grease payments
non-tariff barriers
factors of production
49. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
oligopoly
inventory
negative equity
monopoly
50. A company's main products - e.g. Opel's core product is cars.
core products
fiscal policies
automatic reordering system
oligopoly