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






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






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






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






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






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






7. A person or company from whom goods or services are bought.






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






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






10. The customer group a retailer wants to attract and satisfy.






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






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






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






14. Consumer goods that have a short life span - e.g. food or paper tissues.






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






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






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






18. 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.






19. When a price has been cut.






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






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






22. Something which is a copy or imitation.






23. Focusing on a more specific line of products or services in comparison to competitors.






24. Something that is bought without being planned for.






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






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






27. Economic policies that use money e.g. interest rates or money supply as the major instruments.






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






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






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






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






32. A period of economic expansion.






33. American Federation of Labour / Association of Industrial Organizations






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






35. Regular fluctuations in overall economic activity over time.






36. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.






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






38. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.






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






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






41. Confederation of British Industry






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






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






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






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






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






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






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






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






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