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






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






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






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






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






6. A period of very high economic activity.






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






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






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






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






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






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






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






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






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






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






17. 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.






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






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






20. Giving people the freedom to decide things and take responsibility for themselves.






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






22. Obstacles to international trade based on customs tariffs.






23. Meeting accepted guidelines or laws.






24. A voluntary sector or charity sector organization.






25. The support of a cause.






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






27. A government-imposed tax on imports.






28. Government policies to cool down an economy and prevent inflation during boom periods.






29. Something which is a copy or imitation.






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






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






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






33. The violation of a law or right.






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






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






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






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






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






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






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






41. The area of the economy that produces goods and provides services.






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






43. A period of economic expansion.






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






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






46. 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.






47. A period of decline in economic activity.






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






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






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