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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 support of a cause.






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






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






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






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






6. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.






7. A range of many things or people that are very different from each other.






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






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






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






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






12. A retail outlet.






13. real Gross Domestic Product is the level of GDP having been adjusted for inflation.






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






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






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






17. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.






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






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






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






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






22. A period where there is little economic activity - high unemployment and much poverty.






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






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






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






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






27. Machine for processing sales - giving change in a shop or restaurant.






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






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






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






31. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.






32. Meeting accepted guidelines or laws.






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. A period of decline in economic activity.






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






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






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






38. An extremely adverse environmental condition.






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






40. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.






41. 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.






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






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






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






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






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






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






48. The money a state earns via taxation.






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






50. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.