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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. Something that is required by law.
statutory
deficit spending
tariff barriers
upswing
2. The hub of retailing in a city - where the most office buildings and retail stores are.
duty
prime rate
inventory management
central business district
3. 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?
blight
downswing
PPP
depression
4. Machine for processing sales - taking payments - giving change. Also know as a cash register.
competitive
questionable payments
duty
till
5. The violation of a law or right.
infringement
tariff
BPI
bulk discount
6. The area of the economy that produces goods and provides services.
business sector
outsourcing
quota
BPI
7. Buying currency options that fix exchange rates for a period of time.
sanctions
manufacturing
RPI
currency hedging
8. The rate of interest at which US banks lend money to their best corporate customers.
customs
unemployment rate
central business district
prime rate
9. 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
urban
recession
variety store
10. Something that is bought without being planned for.
money supply
budget surplus
GDP
impulse purchase
11. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.
consumer durables
inventory shrinkage
advocacy
Americorps
12. Payments made like a bribe to encourage an official to allow something or get something done.
grease payments
bulk discount
CBD
idle capacity
13. A retailer that concentrates on selling one particular type of good.
core products
speciality store
consumer goods
OECD
14. The money a state earns via taxation.
investment
entrepreneurship
household sector
tax revenue
15. An item which is no longer produced by a manufacturer or sold by a retailer.
infringement
discontinued
market skimming
foreign exchange
16. How companies try to show their products as being different from those of their rivals.
beneficiary
household sector
debit-card system
product differentiation
17. 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.
freehold
current account
NGOs
monopoly
18. Organization for Economic Cooperation and Development
customs
supply chain
producer goods
OECD
19. A period of very high economic activity.
boom
markup
discontinued
store
20. Statement of policy issued by a government which may form the basis of a future law.
White paper
WTO
discontinued
FMCG
21. A test or way of measuring something.
benchmarking
RPI
assessment
cooperative
22. Machine for processing sales - giving change in a shop or restaurant.
budget surplus
checkout
quota
urban
23. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
product differentiation
market skimming
over the counter drug
automatic reordering system
24. A range of many things or people that are very different from each other.
aggregate demand
investment
shopping centre
diversity
25. Doing something (performing a process) to make a material ready for your requirments.
intellectual property
CBI
customs
processing
26. The different layers within a society e.g. class - income - education.
social stratification
standard of living
vending machine
NAFTA
27. The amount of wealth - money - comfort etc that a particular person - group or society has.
monetary policies
grease payments
stockroom
standard of living
28. A period where there is little economic activity - high unemployment and much poverty.
depression
statutory
protectionism
sustainable development
29. When a price has been cut.
not-for-profit
compliance
reduced
mom-and-pop store
30. When the amount borrowed to pay for a home is now more than the property is actually worth.
grease payments
negative equity
statutory
reduced
31. The rare situation when budget spending is smaller than revenue.
sustainability
budget surplus
real GDP
poverty line
32. The percentage of a household's income that is saved.
social stratification
savings rate
reduced
market equilibrium
33. Connected with society and the way it is organized.
megamall
department store
otc drug
societal
34. The number of times during a period a business sells its inventory and replaces it.
reduced
White paper
protectionism
inventory turnover
35. A period of decline in economic activity.
supermarket
trade deficit
discretionary income
recession
36. A voluntary sector or charity sector organization.
fake
beneficiary
not-for-profit
PPP
37. A large - long-term loan taken out to pay for a house.
trademark
export controls
mortgage
balance of trade
38. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.
NAFTA
NIMBY
fake
impulse purchase
39. The total sum of a nation's outstanding debt.
savings rate
producer goods
automatic reordering system
national debt
40. Hiring an external company to perform tasks for a company and reduce costs.
protectionism
outsourcing
markdown
household sector
41. Process of communicating back and forth until an agreement has been reached.
barter
cooperative
negotiation
consumer non-durables
42. 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.
mission statement
factors of production
RPI
capital spending
43. Government policies to cool down an economy and prevent inflation during boom periods.
core products
prime rate
fiscal policies
restrictive economic policies
44. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.
market penetration
balance of payments
speciality store
discontinued
45. A country's exports minus its imports.
new capital investment
customer
chain
balance of trade
46. The process of turning raw materials and parts into finished products.
manufacturing
AFL/CIO
WTO
advertising
47. real Gross Domestic Product is the level of GDP having been adjusted for inflation.
White paper
mom-and-pop store
real GDP
sustainability
48. A person or company from whom goods or services are bought.
supplier
economic growth
otc drug
reduced
49. Multiple retail units under common ownership.
depression
chain
BPI
real GDP
50. The way in which a company is controlled.
market penetration
governance
CBI
oligopoly