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






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






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






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






5. Organization for Economic Cooperation and Development






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






7. An individual or company buying from someone.






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






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






10. 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.






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






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






13. The total sum of a nation's outstanding debt.






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






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






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






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






18. The Federal Reserve - the US central banking system.






19. Items which a shop has and are available to buy.






20. The money a state earns via taxation.






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






22. The sum of money invested in new or additional equipment.






23. How companies try to show their products as being different from those of their rivals.






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






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






26. Exclusive ownership of a property for an indefinite period of time.






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






28. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.






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






30. 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.






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






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






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






34. Something that is bought without being planned for.






35. A small owner-operated store serving a local community.






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






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






38. 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.






39. A period of shrinking economic activity.






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






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






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






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






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






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






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






47. Trade Union Congress.






48. A test or way of measuring something.






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






50. A retail outlet.







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Can you answer 50 questions in 15 minutes?


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