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






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






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






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






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






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






7. Something that is required by law.






8. The skills and knowledge needed to start and run a company.






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






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






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






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






13. A government-imposed tax on imports.






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






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






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






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






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






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






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






21. Someone who does something without being paid for it - e.g. working for a charity.






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






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






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






25. A voluntary sector or charity sector organization.






26. A retail outlet.






27. Development which can be done without harming the environment or natural resources.






28. Payments made like a bribe to encourage an official to allow something or get something done.






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






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






31. A person or organization which receives money from a charity.






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






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






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






35. Sets of specific restraints imposed by governments on international trade.






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






37. The way in which a company is controlled.






38. The violation of a law or right.






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






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






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






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






43. Volunteer organization for young - disadvantaged Americans.






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






45. Goods bought for private use.






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






47. Trade Union Congress.






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






49. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






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