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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 violation of a law or right.






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






3. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.






4. Something that is required by law.






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






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






7. 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.






8. Volunteer organization for young - disadvantaged Americans.






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






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






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






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






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






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






15. A period of decline in economic activity.






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






17. A person who works for someone else in exchange for payment.






18. When a small number of companies control a certain market.






19. A minimum income level below which people are officially poor.






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






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






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






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






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






25. 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.






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






27. The support of a cause.






28. A way of measuring performance by comparing a company to similar ones.






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






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






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






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






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






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






35. Giving people the freedom to decide things and take responsibility for themselves.






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






37. Involving the use of natural resources and energy in a way that does not harm the environment.






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






39. Regular fluctuations in overall economic activity over time.






40. How companies try to show their products as being different from those of their rivals.






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. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.






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






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






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






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






47. Multiple retail units under common ownership.






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






49. Hiring an external company to perform tasks for a company and reduce costs.






50. A government-imposed tax on imports.







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