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






2. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.






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






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






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






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






7. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.






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






9. A computerised stock-control system which reorders stock automatically when it reaches a certain level.






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






11. Organization for Economic Cooperation and Development






12. The right to live in a home on a long-term tenancy.






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






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






15. A collection of shops under one roof with a shared entrance and food area.






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






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






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






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






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






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






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






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






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






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






26. Something that is required by law.






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






28. Statement of policy issued by a government which may form the basis of a future law.






29. The money a state earns via taxation.






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






31. Agreement that provided the basis for the formation of the European Union.






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






33. Goods bought for private use.






34. The area of the economy that produces goods and provides services.






35. Multiple retail units under common ownership.






36. An enormous planned shopping centre with hundreds of stores under one roof.






37. Something that is bought without being planned for.






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






39. A government-imposed tax on imports.






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






41. Volunteer organization for young - disadvantaged Americans.






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






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






44. An economic sanction that forbids the import of a specific product or all products from a specific country.






45. When budget spending exceeds revenue.






46. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.






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






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






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






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