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






2. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.






3. A country's exports minus its imports.






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






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






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






7. The way in which a company is controlled.






8. Value of the entire company as expressed by its market capitalization.






9. The number of times during a period a business sells its inventory and replaces it.






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






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






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






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






14. The different layers within a society e.g. class - income - education.






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






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






17. A retailer that concentrates on selling one particular type of good.






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






19. Meeting accepted guidelines or laws.






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






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






22. A voluntary sector or charity sector organization.






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






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






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






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






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






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






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






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






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






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






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






34. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.






35. 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.






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






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






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






39. Government policies to cool down an economy and prevent inflation during boom periods.






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






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






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






43. A retail outlet.






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






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






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






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






48. An extremely adverse environmental condition.






49. An economic sanction that forbids the import of a specific product or all products from a specific country.






50. When governments try to stabilize economic activities by funding major projects from budget deficits.