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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. The process of turning raw materials and parts into finished products.
reduced
manufacturing
consumer goods
product differentiation
2. A period of very high economic activity.
boom
new capital investment
consumer goods
bulk discount
3. The total sum of goods and services in demand.
blight
open-market operations
aggregate demand
mortgage
4. A medicine which is available without first getting a prescription from a doctor.
tax revenue
discontinued
over the counter drug
questionable payments
5. Obstacles to international trade other than tariffs.
duty
speciality store
width of assortment
non-tariff barriers
6. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
investment
benchmarking
greenbelt
RPI
7. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
Fed
depression
self-service
NIMBY
8. The sum of money invested in new or additional equipment.
new capital investment
subsidy
cooperative
statutory
9. The legal right of the owner of a work over its control and distribution.
CBI
copyright
embargo
household sector
10. Organization for Economic Cooperation and Development
business sector
public-private partnership
fake
OECD
11. The difference between merchandise costs and retail selling price.
over the counter drug
leasehold
depth of assortment
markup
12. Refers to the number of distinct goods or services a retailer offers.
counterfeit
width of assortment
RPI
retail outlet
13. The variety of goods that a retailer sells.
variety store
depth of assortment
producer goods
niche strategy
14. The percentage of people who do not have a job.
Nominal GDP
unemployment rate
customer
OECD
15. Something that is required by law.
boom
chain
statutory
sustainable
16. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
advocacy
quota
trade deficit
otc drug
17. A test or way of measuring something.
assessment
stockroom
volunteer
intellectual property
18. When the imports into a country exceed the exports going out of a country.
trade deficit
inventory
poverty line
automatic reordering system
19. Confederation of British Industry
open source
recession
standard of living
CBI
20. Economic policies designed to support business and help it expand.
market equilibrium
producer goods
constructive economic policies
niche strategy
21. The skills and knowledge needed to start and run a company.
Green paper
entrepreneurship
EPOS
Maastricht Treaty
22. When a price has been cut.
GDP
reduced
tax haven
RPI
23. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
protectionism
CBI
otc drug
budget deficit
24. An individual or company buying from someone.
tax haven
customer
in-stock
greenfield site
25. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
reduced
width of assortment
market skimming
monopoly
26. The area of the economy that produces goods and provides services.
market equilibrium
target market
business sector
currency hedging
27. The purchase of a financial product or other item of value with the hope that it will become more valuable.
factors of production
national debt
investment
core products
28. System in which good or services are exchanged for other goods or services rather than cash.
barter
EPOS
NGOs
duty
29. Something that is bought without being planned for.
open-market operations
inventory
tax haven
impulse purchase
30. When the exports a country makes exceed the imports.
reduced
budget deficit
leasehold
trade surplus
31. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.
dealer brands
not-for-profit
subsidy
outsourcing
32. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.
market penetration
prime rate
AFL/CIO
new capital investment
33. A storeroom where items which cannot be put on display are stored.
oligopoly
stockroom
poverty line
mission statement
34. The total sum of a nation's outstanding debt.
national debt
diversity
consumer goods
discontinued
35. A country's exports minus its imports.
balance of trade
sustainable development
recession
duty
36. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.
greenbelt
niche strategy
EPOS
consumer goods
37. Statement of policy issued by a government which may form the basis of a future law.
duty
producer goods
beneficiary
White paper
38. An extremely adverse environmental condition.
oligopoly
blight
advocacy
beneficiary
39. Obstacles to international trade based on customs tariffs.
tariff barriers
producer goods
niche strategy
speciality store
40. The violation of a law or right.
grease payments
infringement
quota
monetary policies
41. Imitating another company's ideas rather than developing your own.
assessment
capital spending
self-service
copycat
42. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.
restrictive economic policies
stakeholder
social stratification
greenbelt
43. How companies try to show their products as being different from those of their rivals.
EDI
boom
advertising
product differentiation
44. Volunteer organization for young - disadvantaged Americans.
urban
Americorps
social structure
tariff barriers
45. A financial instrument that facilitates payment from one currency to another.
manufacturing
foreign exchange
supplier
department store
46. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
Maastricht Treaty
otc drug
blight
CPI
47. A self-service food store with grocery - meat and produce departments.
supermarket
store loyalty
WTO
customer
48. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
width of assortment
household sector
not-for-profit
inventory shrinkage
49. A person or company from whom goods or services are bought.
consumer durables
oligopoly
supplier
mortgage
50. 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
counterfeit
grease payments
trade surplus