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






2. A retail outlet.






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






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






5. The right to live in a home on a long-term tenancy.






6. The rate of interest at which US banks lend money to their best corporate customers.






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






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






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






10. A period where there is little economic activity - high unemployment and much poverty.






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






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






13. Meeting accepted guidelines or laws.






14. 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.






15. Confederation of British Industry






16. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).






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






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






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






20. A retailing format that involves the coin- or card-operated dispensing of goods and services. It eliminates the use of sales personnel and allows around-the-clock sales.






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






22. Value of the entire company as expressed by its market capitalization.






23. 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.






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






25. When a private company provides a public service in agreement with a government or council.






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






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






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






29. Buying currency options that fix exchange rates for a period of time.






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






31. Goods bought for private use.






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






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






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






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






36. When budget spending exceeds revenue.






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






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






39. Obstacles to international trade other than tariffs.






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






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






42. 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?






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






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






45. American Federation of Labour / Association of Industrial Organizations






46. A test or way of measuring something.






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






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






49. Products that can hold their own against rival products in terms of price - features or quality.






50. The variety of goods that a retailer sells.