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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 process of turning raw materials and parts into finished products.






2. The hub of retailing in a city - where the most office buildings and retail stores are.






3. 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.






4. A period of very high economic activity.






5. An individual or company buying from someone.






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






7. Hiring an external company to perform tasks for a company and reduce costs.






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






9. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.






10. A person or company from whom goods or services are bought.






11. When a price has been cut.






12. When budget spending exceeds revenue.






13. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.






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






15. Volunteer organization for young - disadvantaged Americans.






16. A country's exports minus its imports.






17. 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.






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






19. The Federal Reserve - the US central banking system.






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






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






22. Something that is required by law.






23. An economic sanction that forbids the import of a specific product or all products from a specific country.






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






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






26. When a customer regularly uses a store they know - like and trust.






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






28. The rare situation when budget spending is smaller than revenue.






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






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






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






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






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






34. A retail outlet.






35. A minimum income level below which people are officially poor.






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






37. The purchase of a financial product or other item of value with the hope that it will become more valuable.






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






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






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






41. Meeting accepted guidelines or laws.






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






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






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






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






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






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






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






49. The system of organizations involved in moving a product from manufacturer to customer.






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







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