Business Vocabulary — Set 1: Practice flashcards
6 of 33 questions free to study here · 10 topics · the whole deck is built into Willys
Thirty-three sentence-completion questions on the Set 1 words, set in shops, offices and boardrooms: four choices, one blank, and why the tempting wrong answer fails.
Practice deck · part of Business Vocabulary · written against: The terms of everyday business, finance, marketing and the workplace; American usage; our own word selection. Updated 2026-10-10.
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Before signing a lease for her dog-grooming salon, Tamsin wrote a thirty-page ______ laying out her target customers, startup costs, staffing and three years of expected sales.
A) executive summary
B) business model
C) mission statement
D) business planD) business planStrategy & Planning
A thirty-page document setting out customers, costs, staffing and expected sales is a business plan. Business model is tempting, but a business model is the way a company earns money, not the written document that plans the whole venture. -
Two hundred people signed up for Halden Software's free webinar; each counts as a ______ for now, though reps expect to drop most after learning who can actually afford the product.
A) consumer
B) demographic
C) lead
D) contractorC) leadMarketing & Sales
Leads are possible buyers nobody has screened yet, for example on budget. Consumer is tempting because these sign-ups might buy the software one day, but consumers are private people already spending money on goods, and none of them has bought anything yet. -
After two departments merged, managers booked an afternoon of ______: escape-room puzzles that made former rivals share clues and rely on one another to get out.
A) networking
B) succession planning
C) team building
D) outreachC) team buildingPeople & Management
Exercises that get colleagues trusting and depending on one another are team building. Networking is tempting because people mix and meet, but networking is about the doors outside contacts might later open for your career or business, not trust within one workplace. -
Under a ______ with Halvorsen Hardware, the public library borrows tools for its repair workshops, and the library thanks the store in its newsletter.
A) merger
B) franchise
C) joint venture
D) partnershipD) partnershipDeals & Negotiation
When two organizations join forces on shared work while each stays separate, that is a partnership. Joint venture is tempting, but a joint venture is a business project the partners own and run together, and no shared business exists here. -
Before Harlow County could auction the farm for unpaid taxes, it had to mail notice, publish the sale date and hold a hearing, because the owners were owed ______ before losing their land.
A) due process
B) litigation
C) governance
D) oversightA) due processLaw & Compliance
The fair legal steps owed before anyone loses property, like notice and a hearing, are due process. Litigation is tempting because it is also legal, but litigation means fighting someone through lawsuits, and no one here is suing. -
Laurel Bus Lines' app shows ______ seat counts for every route, each one dropping by one the instant a ticket is sold at any station.
A) real-time
B) open source
C) data-driven
D) just-in-timeA) real-timeTechnology & Data
Counts that change the instant a ticket sells, at any station, are real-time. Just-in-time is tempting because it is about timing too, but it describes goods and parts arriving only as they are needed, not data updated as events happen.
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About these cards
Review status: Second-reader reviewed, with corrections applied.
Checked against:
- Senses, parts of speech and pronunciations checked against Merriam-Webster.com, the American Heritage Dictionary and the Oxford Learner's, Longman and Cambridge learner's dictionaries; all definitions, notes and example sentences are original.
- Word selection is our own, by frequency (wordfreq, CC BY-SA 4.0) and editorial judgment; no publisher's business glossary is reproduced.
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