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






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






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






4. When a small number of companies control a certain market.






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






6. Goods bought and used by companies - such as machines. Also known as capital goods.






7. Organization for Economic Cooperation and Development






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






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






10. Usually software where the source code is made freely available for all users to change as they see fit.






11. A test or way of measuring something.






12. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.






13. The violation of a law or right.






14. Obstacles to international trade based on customs tariffs.






15. Economic policies that use taxation to correct the course of the economy e.g. lowering sales tax to encourage spending or raising interest rates to encourage saving.






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






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






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






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






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






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






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






23. Something which is a copy or imitation.






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






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






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






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






28. Something that is bought without being planned for.






29. The support of a cause.






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






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






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






33. 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.






34. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.






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






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






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






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






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






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






41. A computerised stock-control system which reorders stock automatically when it reaches a certain level.






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






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






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






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






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






47. A way of measuring performance by comparing a company to similar ones.






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






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






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