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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. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
monopoly
trademark
EDI
FMCG
2. Agreement that provided the basis for the formation of the European Union.
infringement
markup
Maastricht Treaty
open-market operations
3. The area of the economy that produces goods and provides services.
freehold
business sector
fake
Fed
4. 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
budget deficit
in-stock
outsourcing
5. Something that is bought without being planned for.
stakeholder
megamall
impulse purchase
franchising
6. Goods bought for private use.
consumer goods
over the counter drug
stock turnover
inventory management
7. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
cooperative
mortgage
shelf warmer
FMCG
8. A reduction in price offered when buying an item in higher quantities.
shareholder
deficit spending
bulk discount
discretionary income
9. Hiring an external company to perform tasks for a company and reduce costs.
mortgage
outsourcing
trade deficit
employee
10. Refers to the number of distinct goods or services a retailer offers.
compliance
width of assortment
restrictive economic policies
trade surplus
11. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
EPOS
vending machine
protectionism
constructive economic policies
12. Imitating another company's ideas rather than developing your own.
copycat
dead stock
supply chain
vending machine
13. The legal right of the owner of a work over its control and distribution.
allocation
mom-and-pop store
AAA
copyright
14. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
blight
bulk discount
unemployment rate
AAA
15. Business wholly owned by its employees with the emphasis on group decision making.
embargo
supermarket
cooperative
new capital investment
16. The rare situation when budget spending is smaller than revenue.
quota
advocacy
customs
budget surplus
17. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
NGOs
advocacy
market penetration
national debt
18. When a price has been cut.
monopoly
reduced
not-for-profit
Fed
19. Obstacles to international trade based on customs tariffs.
tariff barriers
shareholder value
RPI
market penetration
20. A company's main products - e.g. Opel's core product is cars.
constructive economic policies
trade deficit
core products
fiscal policies
21. An item which is no longer produced by a manufacturer or sold by a retailer.
leasehold
discontinued
business cycle
stock turnover
22. A period where there is little economic activity - high unemployment and much poverty.
Green paper
impulse purchase
shopping centre
depression
23. Items which a shop has and are available to buy.
in-stock
competitive
otc drug
balance of payments
24. When the amount borrowed to pay for a home is now more than the property is actually worth.
constructive economic policies
negative equity
governance
market penetration
25. A financial instrument that facilitates payment from one currency to another.
automatic reordering system
AFL/CIO
empowerment
foreign exchange
26. A voluntary sector or charity sector organization.
not-for-profit
sustainable development
statutory
questionable payments
27. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
questionable payments
otc drug
currency hedging
quota
28. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
counterfeit
TUC
GDP
tax revenue
29. The different layers within a society e.g. class - income - education.
manufacturing
EPOS
social stratification
shopping centre
30. The resources used to produce goods and services - including land - labour - business and capital.
factors of production
budget deficit
empowerment
EDI
31. A retailer that concentrates on selling one particular type of good.
national debt
variety store
speciality store
Fed
32. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
variety store
producer goods
real GDP
reduced
33. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
WTO
Maastricht Treaty
counterfeit
PPP
34. Patterns of relationships between different groups of society.
social structure
stock turnover
EPOS
freehold
35. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
myopic perspective
market skimming
trademark
social stratification
36. The customer group a retailer wants to attract and satisfy.
target market
core products
AFL/CIO
not-for-profit
37. An owner of shares or stocks in a company.
width of assortment
shareholder
non-tariff barriers
FMCG
38. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
supplier
open-market operations
advocacy
household sector
39. A collection of shops under one roof with a shared entrance and food area.
empowerment
width of assortment
statutory
shopping centre
40. The money a state earns via taxation.
unemployment rate
social stratification
diversity
tax revenue
41. Doing something (performing a process) to make a material ready for your requirments.
store loyalty
tariff
FMCG
processing
42. Economic policies that use money e.g. interest rates or money supply as the major instruments.
standard of living
NAFTA
currency hedging
monetary policies
43. 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
in-stock
EPOS
subsidy
44. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.
Green paper
blight
inventory turnover
sustainability
45. Trade Union Congress.
CBD
subsidy
budget surplus
TUC
46. The amount of money a person has left after paying taxes and buying necessities.
currency hedging
discretionary income
business cycle
infringement
47. Involving the use of natural resources and energy in a way that does not harm the environment.
factors of production
open source
business sector
sustainable
48. A large - long-term loan taken out to pay for a house.
markup
mortgage
business cycle
inventory
49. Someone who does something without being paid for it - e.g. working for a charity.
investment
volunteer
BPI
allocation
50. A self-service food store with grocery - meat and produce departments.
width of assortment
volunteer
investment
supermarket