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






2. The percentage of people who do not have a job.






3. Goods bought for private use.






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






5. Regular fluctuations in overall economic activity over time.






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






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






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






9. The total sum of goods and services in demand.






10. Trade Union Congress.






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






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






13. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).






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






15. A retail outlet.






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






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






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






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






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






21. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.






22. A system where a company allows someone to run a specific business using the company's products or brand in exchange for a fee or share of the profits - McDonalds is a famous franchise.






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






24. A tax imposed on imports by the customs authority of a country.






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






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






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






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






29. Goods bought and used by companies - such as machines. Also known as capital goods.






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






31. The way in which a company is controlled.






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






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






34. The support of a cause.






35. Announcing that a product is for sale - trying to persuade customers to buy a product or service.






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






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






38. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.






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






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






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






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






43. A test or way of measuring something.






44. 1. The sum of the balance of trade plus net factor income (interest dividends) plus net transfer payments (foreign aid).2. Low or no-interest bank account used for daily transactions e.g. using an ATM - with a cheque book or debit card.






45. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.






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






47. The right to live in a home on a long-term tenancy.






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






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






50. Economic policies that use taxation to correct the course of the economy e.g. lowering sales tax to encourage spending or raising interest rates to encourage saving.