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






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






3. 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.






4. A voluntary sector or charity sector organization.






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






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






7. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.






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






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






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






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






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






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






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






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






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






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






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






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






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






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






22. An individual or company buying from someone.






23. Regular fluctuations in overall economic activity over time.






24. A retailer that concentrates on selling one particular type of good.






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






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






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






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






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






30. 1. The sum of the balance of trade plus net factor income (interest dividends) plus net transfer payments (foreign aid).2. Low or no-interest bank account used for daily transactions e.g. using an ATM - with a cheque book or debit card.






31. 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.






32. Obstacles to international trade based on customs tariffs.






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






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






35. The variety of goods that a retailer sells.






36. Obstacles to international trade other than tariffs.






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






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






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






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






41. 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.






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






43. When a price has been cut.






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






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






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






47. Imitating another company's ideas rather than developing your own.






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






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






50. Confederation of British Industry







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