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. Consumer goods that have a long life span - e.g. furniture.






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






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






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






5. The way in which a company is controlled.






6. A test or way of measuring something.






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






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






9. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.






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






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






12. The variety of goods that a retailer sells.






13. Economic policies designed to support business and help it expand.






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






15. 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.






16. The total sum of a nation's outstanding debt.






17. Meeting accepted guidelines or laws.






18. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.






19. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.






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






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






22. The hub of retailing in a city - where the most office buildings and retail stores are.






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






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






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






26. The total amount of money in circulation in a country.






27. 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.






28. The money a state earns via taxation.






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






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






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






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






33. When the exports a country makes exceed the imports.






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






35. 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.






36. Financial aid by the government to an individual or group to support an activity that is in the public interest.






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






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






39. When a customer regularly uses a store they know - like and trust.






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






41. Shows the flows of money into and out of a country plus transfer payments.






42. A period of shrinking economic activity.






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






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






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






46. The skills and knowledge needed to start and run a company.






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






48. The percentage of people who do not have a job.






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






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