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






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






3. The balance between interest rates and the demand for money.






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






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






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






7. Something that is bought without being planned for.






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






9. Selling items to a customer directly - for example via telephone - without a store being involved in the process.






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






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






12. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.






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






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






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






16. Imitating another company's ideas rather than developing your own.






17. A country's exports minus its imports.






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






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






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






21. A period of economic expansion.






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






23. American Federation of Labour / Association of Industrial Organizations






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






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






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






27. Regular fluctuations in overall economic activity over time.






28. When budget spending exceeds revenue.






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






30. A test or way of measuring something.






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






32. The customer group a retailer wants to attract and satisfy.






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






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






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






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






37. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.






38. The violation of a law or right.






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






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






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






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






43. 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.






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






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






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






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






48. Patterns of relationships between different groups of society.






49. An owner of shares or stocks in a company.






50. The money a state earns via taxation.