List of words and expressions for vocabulary test

1 Sectors of economy
primary sector

extraction of raw materials

secondary sector

manufacturing industry

tertiary or service sector

commercial services

quaternary sector

ICT (information and communication technologies)

consultancy

intellectual activities

provide work for sy

advanced countries

expertise

business consulting

less-developed countries

major economies

exported goods

service industry

financial crisis

real estate

delocalize

decline

replace

heavy industry

outsource

high-quality manufacturing

2 Production
industrial production
inventory

component

location

economies of scale

lead time

competitors enter the market

production volume

decrease

increase

industrial relations

deteriorate

costs of storage

opportunity cost

product scheduling

obsolescence

meet demand

under-utilizing the workforce

additional, less profitable product

quantity discount in purchasing

stimulate demand

staff retention

training and retraining

global supply chain

just-in-time deliveries

founder and chairman of a company

disruptive event

costly

natural resources

oil well

strike oil

procurement
prosperity and stability

embedded

3 Logistics
accurate

estimate

forecast

manual

replenishment

supply-chaining

distribution center

trailer truck

bar code

conveyor belt

cashier

scan

coastal

checkout counter

delivery

sorting

packing

distribution

buying

manufacturing

reordering

sales department

stock has been used

place order

put into inventory

despatch

place new orders with suppliers

consignment

industrial relations

4 Quality
reliable

durable

appearance

sturdy

last for a reasonable strength

serviceability

regulation

reworking

scrapping

eliminate waste

product reliability

product durability

reduction in the number of complaints

reduced waste and product returns

improved image

increased sales and market share

improved staff morale and purchase rate

increased repurchase rate

improved staff morale and lower staff turnover