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 customer group a retailer wants to attract and satisfy.






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






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






4. A period of decline in economic activity.






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






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






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






8. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.






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






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






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






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






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






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






15. 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.






16. The rare situation when budget spending is smaller than revenue.






17. The area of the economy that produces goods and provides services.






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






19. Government policies to cool down an economy and prevent inflation during boom periods.






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






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






22. Something which is a copy or imitation.






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






24. The money a state earns via taxation.






25. A retailer that concentrates on selling one particular type of good.






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






27. A test or way of measuring something.






28. Patterns of relationships between different groups of society.






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






30. A large retail unit selling a wide variety of goods in separate departments.






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






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






33. An item which is no longer produced by a manufacturer or sold by a retailer.






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






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






36. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.






37. When budget spending exceeds revenue.






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






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






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






41. Financial aid by the government to an individual or group to support an activity that is in the public interest.






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






43. Refers to the number of distinct goods or services a retailer offers.






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






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






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






47. When a price has been cut.






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






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






50. A voluntary sector or charity sector organization.