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






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






3. When budget spending exceeds revenue.






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






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






6. Patterns of relationships between different groups of society.






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






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






9. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.






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






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






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






13. Trade Union Congress.






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






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






16. Economic policies designed to support business and help it expand.






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






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






19. American Federation of Labour / Association of Industrial Organizations






20. Economic policies that use money e.g. interest rates or money supply as the major instruments.






21. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).






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






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






24. Regular fluctuations in overall economic activity over time.






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






26. Regulations that mean permission from the government is required before certain items can be exported.






27. A test or way of measuring something.






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






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






30. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.






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






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






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






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






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






36. A government-imposed tax on imports.






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






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






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






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






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






42. An enormous planned shopping centre with hundreds of stores under one roof.






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






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






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






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






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






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






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






50. Giving people the freedom to decide things and take responsibility for themselves.







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Can you answer 50 questions in 15 minutes?


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