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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. Something that is bought without being planned for.






2. A period of economic expansion.






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






4. The sum of money invested in new or additional equipment.






5. A self-service food store with grocery - meat and produce departments.






6. The variety of goods that a retailer sells.






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






8. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.






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






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






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






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






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






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






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






16. The buying and selling of government securities by a central bank in order to control the money supply.






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






18. American Federation of Labour / Association of Industrial Organizations






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






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






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






22. A sign or symbol used by a company such as the Nike swish logo which is protected by law.






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






24. A retail outlet.






25. When a company reduces their output during a recession they have excess or idle capacity.






26. 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.






27. Economic policies that use taxation to correct the course of the economy e.g. lowering sales tax to encourage spending or raising interest rates to encourage saving.






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






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






30. Organization for Economic Cooperation and Development






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






32. The legal right of the owner of a work over its control and distribution.






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






34. Money which is spent on construction - land - machinery etc which has an expected working life of more than one year - investments in the future of a business.






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






36. Multiple retail units under common ownership.






37. Financial aid by the government to an individual or group to support an activity that is in the public interest.






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






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






40. A consultation document that sets out the government's position on a certain issue.






41. Trade Union Congress.






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






43. An economic sanction that forbids the import of a specific product or all products from a specific country.






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






45. When budget spending exceeds revenue.






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






47. A period of decline in economic activity.






48. An item which is no longer produced by a manufacturer or sold by a retailer.






49. The area of the economy that produces goods and provides services.






50. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.







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