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






2. A person or company from whom goods or services are bought.






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






4. Statement of policy issued by a government which may form the basis of a future law.






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






6. An individual or company buying from someone.






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






8. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.






9. 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.






10. An extremely adverse environmental condition.






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






12. A government-imposed tax on imports.






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






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






15. 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.






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






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






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






19. When governments try to stabilize economic activities by funding major projects from budget deficits.






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






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






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






23. American Federation of Labour / Association of Industrial Organizations






24. The process of turning raw materials and parts into finished products.






25. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.






26. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.






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






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






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






30. Patterns of relationships between different groups of society.






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






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






33. A voluntary sector or charity sector organization.






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






35. The variety of goods that a retailer sells.






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






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






38. The money a state earns via taxation.






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






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






41. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.






42. When budget spending exceeds revenue.






43. A shop or store.






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






45. A large - long-term loan taken out to pay for a house.






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






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






48. The amount of wealth - money - comfort etc that a particular person - group or society has.






49. Exclusive ownership of a property for an indefinite period of time.






50. A computerised stock-control system which reorders stock automatically when it reaches a certain level.