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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. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
investment
real GDP
business cycle
balance of trade
2. The percentage of a household's income that is saved.
savings rate
shopping centre
prime rate
upswing
3. The difference between merchandise costs and retail selling price.
capital spending
markup
store
inventory turnover
4. The right to live in a home on a long-term tenancy.
fiscal policies
advocacy
leasehold
PPP
5. Giving people the freedom to decide things and take responsibility for themselves.
franchising
empowerment
public-private partnership
variety store
6. Goods bought and used by companies - such as machines. Also known as capital goods.
store
negative equity
new capital investment
producer goods
7. Central Business District - the largest retail and office area of a city - also known as downtown
inventory management
inventory
loyalty card
CBD
8. 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.
money supply
deficit spending
blight
vending machine
9. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
depth of assortment
market skimming
automatic reordering system
fake
10. The legal right of the owner of a work over its control and distribution.
supply chain
copyright
department store
Maastricht Treaty
11. A person or company from whom goods or services are bought.
supplier
department store
otc drug
GDP
12. A large retail unit selling a wide variety of goods in separate departments.
social stratification
NAFTA
WTO
department store
13. Economic policies designed to support business and help it expand.
empowerment
constructive economic policies
supermarket
entrepreneurship
14. A test or way of measuring something.
megamall
CBD
consumer non-durables
assessment
15. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.
White paper
NGOs
duty
shareholder
16. The sum of money invested in new or additional equipment.
sustainable development
GDP
new capital investment
boom
17. A reduction in price offered when buying an item in higher quantities.
over the counter drug
supplier
diversity
bulk discount
18. An individual or company buying from someone.
dead stock
customer
depression
tax revenue
19. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
bulk discount
otc drug
negotiation
core products
20. The different layers within a society e.g. class - income - education.
over the counter drug
dealer brands
social stratification
governance
21. Something that is bought without being planned for.
market penetration
myopic perspective
impulse purchase
Green paper
22. Products that can hold their own against rival products in terms of price - features or quality.
tariff barriers
competitive
empowerment
household sector
23. Focusing on a more specific line of products or services in comparison to competitors.
product differentiation
niche strategy
inventory
franchising
24. A consultation document that sets out the government's position on a certain issue.
speciality store
trademark
Green paper
GDP
25. Business wholly owned by its employees with the emphasis on group decision making.
boom
trade deficit
cooperative
discontinued
26. A medicine which is available without first getting a prescription from a doctor.
over the counter drug
assessment
stakeholder
protectionism
27. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.
consumer goods
household sector
manufacturing
non-tariff barriers
28. The resources used to produce goods and services - including land - labour - business and capital.
infringement
upswing
mom-and-pop store
factors of production
29. A large - long-term loan taken out to pay for a house.
mortgage
social structure
savings rate
trade surplus
30. Statement of policy issued by a government which may form the basis of a future law.
copycat
sustainability
White paper
stockroom
31. Relating to cities or built up areas - not the countryside.
urban
White paper
economic growth
employee
32. 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.
EDI
current account
OECD
investment
33. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
subsidy
WTO
freehold
social stratification
34. Usually software where the source code is made freely available for all users to change as they see fit.
prime rate
dealer brands
trade deficit
open source
35. A company's main products - e.g. Opel's core product is cars.
currency hedging
core products
outsourcing
duty
36. 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?
PPP
tariff barriers
EPOS
automatic reordering system
37. The percentage of people who do not have a job.
inventory management
NAFTA
blight
unemployment rate
38. Financial aid by the government to an individual or group to support an activity that is in the public interest.
bulk discount
subsidy
EDI
monetary policies
39. The rate of interest at which US banks lend money to their best corporate customers.
advocacy
prime rate
beneficiary
protectionism
40. The amount of wealth - money - comfort etc that a particular person - group or society has.
loyalty card
standard of living
tariff
protectionism
41. When budget spending exceeds revenue.
budget deficit
product differentiation
assessment
competitive
42. Agreement that provided the basis for the formation of the European Union.
shelf warmer
Maastricht Treaty
aggregate demand
export controls
43. Volunteer organization for young - disadvantaged Americans.
Americorps
unemployment rate
social stratification
upswing
44. The total sum of goods and services in demand.
AAA
advertising
EDI
aggregate demand
45. Something that is required by law.
social structure
balance of payments
statutory
FDI
46. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
open-market operations
self-service
shelf warmer
supply chain
47. Hiring an external company to perform tasks for a company and reduce costs.
shareholder value
outsourcing
money supply
current account
48. Confederation of British Industry
leasehold
CBI
discontinued
upswing
49. The system of organizations involved in moving a product from manufacturer to customer.
supply chain
Maastricht Treaty
current account
Fed
50. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.
balance of trade
monopoly
Green paper
NAFTA