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






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






3. The different layers within a society e.g. class - income - education.






4. The Federal Reserve - the US central banking system.






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






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






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






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






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






10. A period of very high economic activity.






11. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.






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






13. System in which good or services are exchanged for other goods or services rather than cash.






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






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






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






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






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






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






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






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






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






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






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






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






26. When budget spending exceeds revenue.






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






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






29. Trade Union Congress.






30. A period of decline in economic activity.






31. When the imports into a country exceed the exports going out of a country.






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






33. Obstacles to international trade other than tariffs.






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






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






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






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






38. Distribution of anything for use - including time or money.






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






40. An extremely adverse environmental condition.






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






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






43. Development which can be done without harming the environment or natural resources.






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






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






46. 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.






47. Items in a store which have not sold for a longer period of time.






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






49. A test or way of measuring something.






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