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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. 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.






2. Items sold in a store during a certain period measuring in number of units or value.






3. 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.






4. Something that is bought without being planned for.






5. Focusing on a more specific line of products or services in comparison to competitors.






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






7. Volunteer organization for young - disadvantaged Americans.






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






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






10. The balance between interest rates and the demand for money.






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






12. A shop or store.






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






14. Connected with society and the way it is organized.






15. 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.






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






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






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






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






20. Items which a shop has and are available to buy.






21. A period of economic expansion.






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






23. Consumer goods that have a short life span - e.g. food or paper tissues.






24. A period where there is little economic activity - high unemployment and much poverty.






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






26. A period of shrinking economic activity.






27. 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?






28. 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.






29. The money a state earns via taxation.






30. A period of very high economic activity.






31. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.






32. Items in a store which have not sold for a longer period of time.






33. An individual or company buying from someone.






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






35. Meeting accepted guidelines or laws.






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






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






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






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






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






41. System in which good or services are exchanged for other goods or services rather than cash.






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






43. Something that is required by law.






44. The support of a cause.






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






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






47. A retail outlet.






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






49. The different layers within a society e.g. class - income - education.






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