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






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






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






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






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






6. A shop or store.






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






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






9. A retail outlet.






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






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






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






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






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






15. The skills and knowledge needed to start and run a company.






16. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.






17. A government-imposed tax on imports.






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






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






20. Buying Power Index - a measure of a geographic area's market characteristics in terms of percentage of the US population - percentage of US retail sales and percentage of US effective buying income.






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






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






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






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






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






26. When a customer regularly uses a store they know - like and trust.






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






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






29. A consultation document that sets out the government's position on a certain issue.






30. Regular fluctuations in overall economic activity over time.






31. A test or way of measuring something.






32. The money a state earns via taxation.






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






34. American Federation of Labour / Association of Industrial Organizations






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






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






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






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






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






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






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






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






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






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






45. A period of shrinking economic activity.






46. Multiple retail units under common ownership.






47. Value of the entire company as expressed by its market capitalization.






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






49. Obstacles to international trade other than tariffs.






50. Patterns of relationships between different groups of society.