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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. When a customer regularly uses a store they know - like and trust.
CBD
tax haven
tariff
store loyalty
2. The rare situation when budget spending is smaller than revenue.
diversity
budget surplus
market penetration
blight
3. A card payment system where the cost of goods or services is immediately removed from a bank account.
sustainable development
capital spending
outsourcing
debit-card system
4. A country's exports minus its imports.
stock turnover
balance of trade
niche strategy
dealer brands
5. A period of shrinking economic activity.
competitive
downswing
mom-and-pop store
sustainable
6. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.
empowerment
otc drug
fake
CBI
7. When a small number of companies control a certain market.
FDI
greenfield site
budget surplus
oligopoly
8. An imitation of a product made with the intent to defraud a customer.
CBD
social stratification
supply chain
counterfeit
9. An individual or company buying from someone.
consumer goods
subsidy
customer
manufacturing
10. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.
questionable payments
store loyalty
budget deficit
money supply
11. Government policies to cool down an economy and prevent inflation during boom periods.
FMCG
restrictive economic policies
business sector
customs
12. Regulations that mean permission from the government is required before certain items can be exported.
export controls
business cycle
central business district
NGOs
13. Statement of policy issued by a government which may form the basis of a future law.
White paper
discretionary income
assessment
NIMBY
14. A period where there is little economic activity - high unemployment and much poverty.
depression
inventory management
statutory
tariff barriers
15. A financial instrument that facilitates payment from one currency to another.
department store
foreign exchange
grease payments
balance of payments
16. A small owner-operated store serving a local community.
mom-and-pop store
depth of assortment
recession
negative equity
17. System in which good or services are exchanged for other goods or services rather than cash.
barter
duty
WTO
sanctions
18. Items which a shop has and are available to buy.
in-stock
GDP
discretionary income
customs
19. The total sum of goods and services in demand.
inventory management
standard of living
budget surplus
aggregate demand
20. Agreement that provided the basis for the formation of the European Union.
TUC
CBI
Maastricht Treaty
compliance
21. Consumer goods that have a long life span - e.g. furniture.
consumer goods
dead stock
consumer durables
central business district
22. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).
shelf warmer
AAA
RPI
OECD
23. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.
FMCG
GDP
TUC
FDI
24. Financial aid by the government to an individual or group to support an activity that is in the public interest.
BPI
subsidy
market equilibrium
FMCG
25. 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.
PPP
current account
open-market operations
variety store
26. A reduction in price offered when buying an item in higher quantities.
bulk discount
myopic perspective
till
factors of production
27. Products that can hold their own against rival products in terms of price - features or quality.
width of assortment
money supply
competitive
niche strategy
28. The process of turning raw materials and parts into finished products.
OECD
manufacturing
shareholder
vending machine
29. Machine for processing sales - taking payments - giving change. Also know as a cash register.
copyright
till
discontinued
poverty line
30. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.
compliance
AAA
convenience store
consumer goods
31. A collection of shops under one roof with a shared entrance and food area.
shopping centre
shelf warmer
automatic reordering system
fiscal policies
32. Exclusive ownership of a property for an indefinite period of time.
stockroom
recession
freehold
copyright
33. Economic policies that use taxation to correct the course of the economy e.g. lowering sales tax to encourage spending or raising interest rates to encourage saving.
fiscal policies
governance
shopping centre
upswing
34. Process of communicating back and forth until an agreement has been reached.
till
sanctions
negotiation
product differentiation
35. The checking - ordering & processing of stock levels.
inventory management
governance
foreign exchange
advertising
36. Buying currency options that fix exchange rates for a period of time.
Americorps
currency hedging
depth of assortment
trademark
37. A large retail unit selling a wide variety of goods in separate departments.
department store
barter
debit-card system
CBD
38. A computerised stock-control system which reorders stock automatically when it reaches a certain level.
competitive
supply chain
greenfield site
automatic reordering system
39. Economic policies that use money e.g. interest rates or money supply as the major instruments.
monetary policies
social structure
inventory shrinkage
markdown
40. Goods bought and used by companies - such as machines. Also known as capital goods.
inventory
oligopoly
producer goods
tax haven
41. The resources used to produce goods and services - including land - labour - business and capital.
shareholder
advocacy
factors of production
White paper
42. Goods bought for private use.
tax haven
consumer goods
currency hedging
entrepreneurship
43. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.
market equilibrium
consumer durables
balance of payments
self-service
44. A test or way of measuring something.
assessment
negotiation
barter
EPOS
45. Central Business District - the largest retail and office area of a city - also known as downtown
discretionary income
copycat
CBD
upswing
46. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.
EDI
franchising
Americorps
trademark
47. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.
CPI
entrepreneurship
idle capacity
store
48. The amount of wealth - money - comfort etc that a particular person - group or society has.
current account
NIMBY
standard of living
statutory
49. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.
franchising
money supply
NGOs
market skimming
50. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.
discretionary income
shareholder
greenbelt
depression