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






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






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






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






5. A card payment system where the cost of goods or services is immediately removed from a bank account.






6. The violation of a law or right.






7. The process of turning raw materials and parts into finished products.






8. Obstacles to international trade based on customs tariffs.






9. Something which is a copy or imitation.






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






11. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.






12. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.






13. A way of measuring performance by comparing a company to similar ones.






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






15. 1. The sum of the balance of trade plus net factor income (interest dividends) plus net transfer payments (foreign aid).2. Low or no-interest bank account used for daily transactions e.g. using an ATM - with a cheque book or debit card.






16. Hiring an external company to perform tasks for a company and reduce costs.






17. 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?






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






19. Volunteer organization for young - disadvantaged Americans.






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






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






22. 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.






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






24. When the imports into a country exceed the exports going out of a country.






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






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






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






28. Someone who does something without being paid for it - e.g. working for a charity.






29. Exclusive ownership of a property for an indefinite period of time.






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






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






32. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.






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






34. An extremely adverse environmental condition.






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






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






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






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






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






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






41. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.






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






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






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






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






46. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.






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






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






49. Obstacles to international trade other than tariffs.






50. A minimum income level below which people are officially poor.