Test your basic knowledge |

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






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






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






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






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






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






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






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






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






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






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






12. The way in which a company is controlled.






13. Trade Union Congress.






14. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.






15. The legal right of the owner of a work over its control and distribution.






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






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






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






19. Something that is required by law.






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






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






22. Organization for Economic Cooperation and Development






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






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






25. A test or way of measuring something.






26. A country's exports minus its imports.






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






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






29. Confederation of British Industry






30. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.






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






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






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






34. Shows the flows of money into and out of a country plus transfer payments.






35. An individual or company buying from someone.






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






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






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






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






40. When the imports into a country exceed the exports going out of a country.






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






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






43. Consumer goods that have a long life span - e.g. furniture.






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






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






46. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.






47. 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.






48. Patterns of relationships between different groups of society.






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






50. Regular fluctuations in overall economic activity over time.