Test your basic knowledge |

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 variety of goods that a retailer sells.






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






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






4. The amount of money a person has left after paying taxes and buying necessities.






5. When a price has been cut.






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






7. Regular fluctuations in overall economic activity over time.






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






9. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.






10. Meeting accepted guidelines or laws.






11. Items which a shop has and are available to buy.






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






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






14. The percentage of a household's income that is saved.






15. The balance between interest rates and the demand for money.






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






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






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






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






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






21. 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.






22. An extremely adverse environmental condition.






23. A card payment system where the cost of goods or services is immediately removed from a bank account.






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






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






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






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






28. A system where a company allows someone to run a specific business using the company's products or brand in exchange for a fee or share of the profits - McDonalds is a famous franchise.






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






30. Business wholly owned by its employees with the emphasis on group decision making.






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






32. Something which is a copy or imitation.






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






34. When the exports a country makes exceed the imports.






35. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.






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






37. 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.






38. The violation of a law or right.






39. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).






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






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






42. When the amount borrowed to pay for a home is now more than the property is actually worth.






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






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






45. Confederation of British Industry






46. Obstacles to international trade other than tariffs.






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






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






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






50. Something that is required by law.