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. The checking - ordering & processing of stock levels.






2. Obstacles to international trade other than tariffs.






3. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.






4. When budget spending exceeds revenue.






5. A shop or store.






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






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






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






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






10. Something that is bought without being planned for.






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






12. Doing something (performing a process) to make a material ready for your requirments.






13. 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.






14. The customer group a retailer wants to attract and satisfy.






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






16. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.






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






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






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






20. A period of shrinking economic activity.






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






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






23. A person or organization which receives money from a charity.






24. The variety of goods that a retailer sells.






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






26. 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.






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






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






29. A retail outlet.






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






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






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






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






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






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






37. 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.






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






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






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






41. 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?






42. 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.






43. A period of very high economic activity.






44. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.






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






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






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






48. An individual or company buying from someone.






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






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