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






2. When a small number of companies control a certain market.






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






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






5. A self-service food store with grocery - meat and produce departments.






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






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






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






9. 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.






10. Goods bought for private use.






11. A country's exports minus its imports.






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






13. Sets of specific restraints imposed by governments on international trade.






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






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






16. Regular fluctuations in overall economic activity over time.






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






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






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






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






21. An owner of shares or stocks in a company.






22. Multiple retail units under common ownership.






23. The variety of goods that a retailer sells.






24. Volunteer organization for young - disadvantaged Americans.






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






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






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






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






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






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






31. A government-imposed tax on imports.






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






33. A period of economic expansion.






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






35. The total sum of goods and services in demand.






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






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






38. 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.






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






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






41. Confederation of British Industry






42. Process of communicating back and forth until an agreement has been reached.






43. 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.






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






45. Organization for Economic Cooperation and Development






46. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.






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






48. Someone who does something without being paid for it - e.g. working for a charity.






49. A person who works for someone else in exchange for payment.






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