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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 total amount of money in circulation in a country.






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






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






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






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






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






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






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






9. The process of turning raw materials and parts into finished products.






10. A retail outlet.






11. Economic policies that use money e.g. interest rates or money supply as the major instruments.






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






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






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






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






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






17. Multiple retail units under common ownership.






18. 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.






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






20. Buying Power Index - a measure of a geographic area's market characteristics in terms of percentage of the US population - percentage of US retail sales and percentage of US effective buying income.






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






22. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.






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






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






25. A storeroom where items which cannot be put on display are stored.






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






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






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. 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?






30. A tax imposed on imports by the customs authority of a country.






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. 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.






34. American Federation of Labour / Association of Industrial Organizations






35. Relating to cities or built up areas - not the countryside.






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






37. Business wholly owned by its employees with the emphasis on group decision making.






38. 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.






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






40. Involving the use of natural resources and energy in a way that does not harm the environment.






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






42. An area of land which has never been built on.






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






44. When the amount borrowed to pay for a home is now more than the property is actually worth.






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






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






47. Meeting accepted guidelines or laws.






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






49. Confederation of British Industry






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