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






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






3. Volunteer organization for young - disadvantaged Americans.






4. Something that is required by law.






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






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






7. The Federal Reserve - the US central banking system.






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






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






10. When a price has been cut.






11. 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?






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






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






14. Regular fluctuations in overall economic activity over time.






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






16. A test or way of measuring something.






17. Development which can be done without harming the environment or natural resources.






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






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






20. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.






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






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






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






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






25. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.






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






27. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).






28. 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.






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






30. The checking - ordering & processing of stock levels.






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






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






33. Patterns of relationships between different groups of society.






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






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






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






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






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






39. The rare situation when budget spending is smaller than revenue.






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






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






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






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






44. Trade Union Congress.






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






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






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






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






49. A card payment system where the cost of goods or services is immediately removed from a bank account.






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