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






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






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






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






5. The buying and selling of government securities by a central bank in order to control the money supply.






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






7. Confederation of British Industry






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






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






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






11. A test or way of measuring something.






12. 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.






13. Meeting accepted guidelines or laws.






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






15. A company's main products - e.g. Opel's core product is cars.






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






17. The way in which a company is controlled.






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






19. A retail outlet.






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






21. Goods bought for private use.






22. A period of very high economic activity.






23. Sets of specific restraints imposed by governments on international trade.






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






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






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






27. Patterns of relationships between different groups of society.






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






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






30. 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.






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






32. A shop or store.






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






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






35. Multiple retail units under common ownership.






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






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






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






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






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






41. Organization for Economic Cooperation and Development






42. The difference between merchandise costs and retail selling price.






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






44. Something that is required by law.






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






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






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






48. The total sum of a nation's outstanding debt.






49. Obstacles to international trade based on customs tariffs.






50. A period of shrinking economic activity.