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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. When a customer regularly uses a store they know - like and trust.






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






3. A financial instrument that facilitates payment from one currency to another.






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






5. An extremely adverse environmental condition.






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






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






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






9. When a price has been cut.






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






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






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






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






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






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






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






17. A shop or store.






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






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






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






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






22. Someone who does something without being paid for it - e.g. working for a charity.






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






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






25. A government-imposed tax on imports.






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






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






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






29. A period of economic expansion.






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






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






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






33. Meeting accepted guidelines or laws.






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






35. American Federation of Labour / Association of Industrial Organizations






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






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






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






39. An individual or company buying from someone.






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






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






42. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.






43. A small owner-operated store serving a local community.






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






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






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






47. Products that can hold their own against rival products in terms of price - features or quality.






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






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






50. The violation of a law or right.







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