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






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






3. Machine for processing sales - giving change in a shop or restaurant.






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






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






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






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






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






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






10. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.






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






12. Regular fluctuations in overall economic activity over time.






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






14. Development which can be done without harming the environment or natural resources.






15. The sum of money invested in new or additional equipment.






16. The violation of a law or right.






17. Payments made like a bribe to encourage an official to allow something or get something done.






18. A large - long-term loan taken out to pay for a house.






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






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






21. Multiple retail units under common ownership.






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






23. A test or way of measuring something.






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






25. Something that is required by law.






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






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






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






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






30. The rate of interest at which US banks lend money to their best corporate customers.






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






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






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






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






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






36. A retailing format that involves the coin- or card-operated dispensing of goods and services. It eliminates the use of sales personnel and allows around-the-clock sales.






37. 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.






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






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






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






41. The variety of goods that a retailer sells.






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






43. Goods bought for private use.






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






45. 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.






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






47. Something which is a copy or imitation.






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






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






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