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Business English Vocab Test

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. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).






2. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.






3. Economic policies designed to support business and help it expand.






4. Items in a store which have not sold for a longer period of time.






5. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.






6. Process of communicating back and forth until an agreement has been reached.






7. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.






8. A reduction in price offered when buying an item in higher quantities.






9. Something that is bought without being planned for.






10. Machine for processing sales - taking payments - giving change. Also know as a cash register.






11. 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.






12. The hub of retailing in a city - where the most office buildings and retail stores are.






13. Organization for Economic Cooperation and Development






14. A period of decline in economic activity.






15. An extremely adverse environmental condition.






16. The money a state earns via taxation.






17. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.






18. System in which good or services are exchanged for other goods or services rather than cash.






19. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.






20. The different layers within a society e.g. class - income - education.






21. American Federation of Labour / Association of Industrial Organizations






22. Central Business District - the largest retail and office area of a city - also known as downtown






23. The resources used to produce goods and services - including land - labour - business and capital.






24. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.






25. The skills and knowledge needed to start and run a company.






26. A reduction in the selling price of an item in order to increase sales.






27. Sets of specific restraints imposed by governments on international trade.






28. A tax imposed on imports by the customs authority of a country.






29. When budget spending exceeds revenue.






30. An imitation of a product made with the intent to defraud a customer.






31. A large retail unit selling a wide variety of goods in separate departments.






32. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.






33. The system of organizations involved in moving a product from manufacturer to customer.






34. A range of many things or people that are very different from each other.






35. Buying currency options that fix exchange rates for a period of time.






36. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.






37. Consumer goods that have a short life span - e.g. food or paper tissues.






38. The difference between merchandise costs and retail selling price.






39. An owner of shares or stocks in a company.






40. Giving people the freedom to decide things and take responsibility for themselves.






41. A country's exports minus its imports.






42. A company's main products - e.g. Opel's core product is cars.






43. Items sold in a store during a certain period measuring in number of units or value.






44. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.






45. Goods bought for private use.






46. When a small number of companies control a certain market.






47. Payments made like a bribe to encourage an official to allow something or get something done.






48. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.






49. A medicine which is available without first getting a prescription from a doctor.






50. A storeroom where items which cannot be put on display are stored.