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






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






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






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






5. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






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






7. A company's main products - e.g. Opel's core product is cars.






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






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






10. A financial instrument that facilitates payment from one currency to another.






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






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






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






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






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






16. A period of decline in economic activity.






17. Items sold in a store during a certain period measuring in number of units or value.






18. Distribution of anything for use - including time or money.






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






20. 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.






21. Items which a shop has and are available to buy.






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






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






24. 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.






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






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






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






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






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






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






31. The percentage of a household's income that is saved.






32. An extremely adverse environmental condition.






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






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






35. Something that is bought without being planned for.






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






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






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






39. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.






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






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






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






43. Organization for Economic Cooperation and Development






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






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






46. A consultation document that sets out the government's position on a certain issue.






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






48. A voluntary sector or charity sector organization.






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






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