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






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






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






4. 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.






5. Obstacles to international trade based on customs tariffs.






6. A range of many things or people that are very different from each other.






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






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






9. When a price has been cut.






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






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






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






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






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






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






16. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.






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






18. 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.






19. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.






20. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.






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






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






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






24. The variety of goods that a retailer sells.






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






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






27. 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.






28. The violation of a law or right.






29. Imitating another company's ideas rather than developing your own.






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






31. An area of land which has never been built on.






32. A tax imposed on imports by the customs authority of a country.






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






34. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.






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






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






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






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






39. The way in which a company is controlled.






40. Multiple retail units under common ownership.






41. A test or way of measuring something.






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






43. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.






44. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?






45. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.






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






48. Patterns of relationships between different groups of society.






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






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