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Test your basic knowledge |
Business English Vocab Test
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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. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.
GDP
sustainable
width of assortment
barter
2. The checking - ordering & processing of stock levels.
depth of assortment
inventory management
poverty line
AAA
3. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.
grease payments
WTO
non-tariff barriers
intellectual property
4. A large retail unit selling a wide variety of goods in separate departments.
markup
shelf warmer
vending machine
department store
5. Sets of specific restraints imposed by governments on international trade.
sanctions
supermarket
customer
economic growth
6. A test or way of measuring something.
employee
NAFTA
assessment
allocation
7. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.
sanctions
outsourcing
protectionism
tariff
8. Payments made like a bribe to encourage an official to allow something or get something done.
grease payments
leasehold
EDI
over the counter drug
9. A way of measuring performance by comparing a company to similar ones.
poverty line
investment
empowerment
benchmarking
10. When a company reduces their output during a recession they have excess or idle capacity.
sustainability
markdown
WTO
idle capacity
11. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
market skimming
speciality store
blight
bulk discount
12. Economic policies that use money e.g. interest rates or money supply as the major instruments.
PPP
budget surplus
factors of production
monetary policies
13. Goods bought for private use.
consumer goods
automatic reordering system
boom
currency hedging
14. An economic sanction that forbids the import of a specific product or all products from a specific country.
export controls
embargo
protectionism
allocation
15. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.
PPP
sustainable
tax haven
new capital investment
16. The buying and selling of government securities by a central bank in order to control the money supply.
open-market operations
White paper
non-tariff barriers
greenbelt
17. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.
budget surplus
Maastricht Treaty
EPOS
NAFTA
18. A period of shrinking economic activity.
open-market operations
consumer durables
downswing
central business district
19. Organization for Economic Cooperation and Development
consumer non-durables
greenfield site
OECD
intellectual property
20. The area of the economy that produces goods and provides services.
boom
real GDP
business sector
downswing
21. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.
convenience store
checkout
cooperative
target market
22. Products that can hold their own against rival products in terms of price - features or quality.
competitive
economic growth
loyalty card
copyright
23. When the exports a country makes exceed the imports.
public-private partnership
trade surplus
CPI
infringement
24. Meeting accepted guidelines or laws.
idle capacity
compliance
deficit spending
width of assortment
25. The sum of money invested in new or additional equipment.
boom
impulse purchase
social stratification
new capital investment
26. A period of economic expansion.
upswing
shelf warmer
compliance
EDI
27. Selling items to a customer directly - for example via telephone - without a store being involved in the process.
chain
vending machine
direct selling
department store
28. How companies try to show their products as being different from those of their rivals.
TUC
product differentiation
urban
core products
29. Items in a store which have not sold for a longer period of time.
customs
dead stock
market skimming
tax haven
30. A large - long-term loan taken out to pay for a house.
TUC
mortgage
fake
RPI
31. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.
oligopoly
monopoly
AFL/CIO
over the counter drug
32. The balance between interest rates and the demand for money.
consumer durables
customs
volunteer
market equilibrium
33. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.
statutory
RPI
recession
infringement
34. The total sum of goods and services in demand.
currency hedging
recession
aggregate demand
FDI
35. Volunteer organization for young - disadvantaged Americans.
manufacturing
Americorps
FDI
markdown
36. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.
loyalty card
sustainable development
megamall
FDI
37. A voluntary sector or charity sector organization.
trade surplus
greenfield site
not-for-profit
AFL/CIO
38. Business wholly owned by its employees with the emphasis on group decision making.
freehold
sustainable development
central business district
cooperative
39. A company's main products - e.g. Opel's core product is cars.
debit-card system
core products
discretionary income
beneficiary
40. An owner of shares or stocks in a company.
automatic reordering system
market equilibrium
shareholder
niche strategy
41. The way in which a company is controlled.
OECD
national debt
governance
export controls
42. Items which a shop has and are available to buy.
factors of production
debit-card system
Green paper
in-stock
43. Announcing that a product is for sale - trying to persuade customers to buy a product or service.
blight
advertising
not-for-profit
leasehold
44. The Federal Reserve - the US central banking system.
product differentiation
shareholder value
markup
Fed
45. A medicine which is available without first getting a prescription from a doctor.
supply chain
boom
recession
over the counter drug
46. Money which is spent on construction - land - machinery etc which has an expected working life of more than one year - investments in the future of a business.
myopic perspective
open source
standard of living
capital spending
47. A sign or symbol used by a company such as the Nike swish logo which is protected by law.
trademark
fiscal policies
cooperative
intellectual property
48. Financial aid by the government to an individual or group to support an activity that is in the public interest.
trade deficit
consumer durables
subsidy
current account
49. Process of communicating back and forth until an agreement has been reached.
intellectual property
negotiation
embargo
national debt
50. The amount of wealth - money - comfort etc that a particular person - group or society has.
standard of living
vending machine
RPI
White paper
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