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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. Connected with society and the way it is organized.






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






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






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






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






6. American Federation of Labour / Association of Industrial Organizations






7. 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.






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






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






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






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






12. System in which good or services are exchanged for other goods or services rather than cash.






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






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






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






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






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






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






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






20. A shop or store.






21. Statement of policy issued by a government which may form the basis of a future law.






22. 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.






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






24. Regular fluctuations in overall economic activity over time.






25. When budget spending exceeds revenue.






26. A voluntary sector or charity sector organization.






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






28. 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.






29. A period of very high economic activity.






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






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






32. Involving the use of natural resources and energy in a way that does not harm the environment.






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






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






35. A reduction in price offered when buying an item in higher quantities.






36. Something which is a copy or imitation.






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






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






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






40. A government-imposed tax on imports.






41. The amount of wealth - money - comfort etc that a particular person - group or society has.






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






43. When a company reduces their output during a recession they have excess or idle capacity.






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






45. When the imports into a country exceed the exports going out of a country.






46. Process of communicating back and forth until an agreement has been reached.






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






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






49. Multiple retail units under common ownership.






50. A reduction in the selling price of an item in order to increase sales.