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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. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.






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






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






4. Confederation of British Industry






5. The total sum of a nation's outstanding debt.






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






7. Relating to cities or built up areas - not the countryside.






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






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






10. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.






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






12. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.






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






14. When a price has been cut.






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






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






17. A period of economic expansion.






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






19. Something that is required by law.






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






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






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






23. Obstacles to international trade other than tariffs.






24. Patterns of relationships between different groups of society.






25. The hub of retailing in a city - where the most office buildings and retail stores are.






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






27. Meeting accepted guidelines or laws.






28. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.






29. Regulations that mean permission from the government is required before certain items can be exported.






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






31. The rare situation when budget spending is smaller than revenue.






32. Regular fluctuations in overall economic activity over time.






33. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.






34. A range of many things or people that are very different from each other.






35. Usually software where the source code is made freely available for all users to change as they see fit.






36. A government-imposed tax on imports.






37. 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.






38. Volunteer organization for young - disadvantaged Americans.






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






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






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






42. Value of the entire company as expressed by its market capitalization.






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






44. Consumer goods that have a long life span - e.g. furniture.






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






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






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






48. The variety of goods that a retailer sells.






49. A storeroom where items which cannot be put on display are stored.






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