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. real Gross Domestic Product is the level of GDP having been adjusted for inflation.






2. A shop or store.






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






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






5. A computerised stock-control system which reorders stock automatically when it reaches a certain level.






6. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.






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






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






9. The checking - ordering & processing of stock levels.






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






11. Process of communicating back and forth until an agreement has been reached.






12. A period of shrinking economic activity.






13. Agreement that provided the basis for the formation of the European Union.






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






15. Multiple retail units under common ownership.






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






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






18. Something that is required by law.






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






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






21. Doing something (performing a process) to make a material ready for your requirments.






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






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






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






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






26. Patterns of relationships between different groups of society.






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






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






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






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






31. Goods bought for private use.






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






33. Volunteer organization for young - disadvantaged Americans.






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






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






36. Something which is a copy or imitation.






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






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






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






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






41. 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.






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






43. A period of very high economic activity.






44. Regular fluctuations in overall economic activity over time.






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






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






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






48. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.






49. A period of economic expansion.






50. An enormous planned shopping centre with hundreds of stores under one roof.