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






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






3. 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.






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






5. Meeting accepted guidelines or laws.






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






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






8. The purchase of a financial product or other item of value with the hope that it will become more valuable.






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






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






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






12. The right to live in a home on a long-term tenancy.






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






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






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






16. A period of decline in economic activity.






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






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






19. A period of shrinking economic activity.






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






21. The legal right of the owner of a work over its control and distribution.






22. The money a state earns via taxation.






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






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






25. Announcing that a product is for sale - trying to persuade customers to buy a product or service.






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






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






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






29. 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.






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






31. An owner of shares or stocks in a company.






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






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






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






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






36. When budget spending exceeds revenue.






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






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






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






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






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






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






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






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






45. An imitation of a product made with the intent to defraud a customer.






46. Patterns of relationships between different groups of society.






47. A reduction in price offered when buying an item in higher quantities.






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






49. 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.






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