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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. Doing something (performing a process) to make a material ready for your requirments.






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






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






4. A collection of shops under one roof with a shared entrance and food area.






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






6. A period of very high economic activity.






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






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






9. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.






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






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






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






13. The balance between interest rates and the demand for money.






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






15. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.






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






17. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.






18. A period of economic expansion.






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






20. Machine for processing sales - giving change in a shop or restaurant.






21. Shows the flows of money into and out of a country plus transfer payments.






22. 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.






23. An area of land which has never been built on.






24. real Gross Domestic Product is the level of GDP having been adjusted for inflation.






25. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.






26. The total sum of goods and services in demand.






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






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






29. Involving the use of natural resources and energy in a way that does not harm the environment.






30. American Federation of Labour / Association of Industrial Organizations






31. Business wholly owned by its employees with the emphasis on group decision making.






32. Distribution of anything for use - including time or money.






33. Something that is bought without being planned for.






34. Government policies to cool down an economy and prevent inflation during boom periods.






35. The rate of interest at which US banks lend money to their best corporate customers.






36. Items which a shop has and are available to buy.






37. The percentage of people who do not have a job.






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






39. Announcing that a product is for sale - trying to persuade customers to buy a product or service.






40. 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.






41. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.






42. The customer group a retailer wants to attract and satisfy.






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






44. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.






45. A period where there is little economic activity - high unemployment and much poverty.






46. Multiple retail units under common ownership.






47. A retail store that handles a wide variety of inexpensive and cheaply priced goods.






48. When the exports a country makes exceed the imports.






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






50. A voluntary sector or charity sector organization.