Test your basic knowledge |

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. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.






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






3. A card payment system where the cost of goods or services is immediately removed from a bank account.






4. A person or organization which receives money from a charity.






5. A voluntary sector or charity sector organization.






6. The number of times during a period a business sells its inventory and replaces it.






7. Volunteer organization for young - disadvantaged Americans.






8. The right to live in a home on a long-term tenancy.






9. The checking - ordering & processing of stock levels.






10. Refers to the number of distinct goods or services a retailer offers.






11. An individual or company buying from someone.






12. Economic policies that use money e.g. interest rates or money supply as the major instruments.






13. The total amount of money in circulation in a country.






14. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.






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






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






17. Organization for Economic Cooperation and Development






18. 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?






19. A period of decline in economic activity.






20. An enormous planned shopping centre with hundreds of stores under one roof.






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






22. 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.






23. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






24. Connected with society and the way it is organized.






25. Imitating another company's ideas rather than developing your own.






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






27. Confederation of British Industry






28. Multiple retail units under common ownership.






29. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.






30. Regular fluctuations in overall economic activity over time.






31. Selling items to a customer directly - for example via telephone - without a store being involved in the process.






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






33. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).






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






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






36. A retailing format that involves the coin- or card-operated dispensing of goods and services. It eliminates the use of sales personnel and allows around-the-clock sales.






37. When a price has been cut.






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






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






40. A test or way of measuring something.






41. When a private company provides a public service in agreement with a government or council.






42. A retail outlet.






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






44. A government-imposed tax on imports.






45. A person who works for someone else in exchange for payment.






46. Goods bought and used by companies - such as machines. Also known as capital goods.






47. The money a state earns via taxation.






48. Development which can be done without harming the environment or natural resources.






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






50. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.