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






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






3. The buying and selling of government securities by a central bank in order to control the money supply.






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






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






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






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






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






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






10. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






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






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






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






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






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






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






17. A minimum income level below which people are officially poor.






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






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






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






21. When budget spending exceeds revenue.






22. An extremely adverse environmental condition.






23. 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.






24. Something that is bought without being planned for.






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






26. 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.






27. A period of decline in economic activity.






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






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






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






31. Regulations that mean permission from the government is required before certain items can be exported.






32. 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.






33. Machine for processing sales - taking payments - giving change. Also know as a cash register.






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






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






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






37. Regular fluctuations in overall economic activity over time.






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






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






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






41. A period of very high economic activity.






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






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






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






45. An imitation of a product made with the intent to defraud a customer.






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






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






48. The way in which a company is controlled.






49. A government-imposed tax on imports.






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