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






2. An individual or company buying from someone.






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






4. 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.






5. A person or company from whom goods or services are bought.






6. Trade Union Congress.






7. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.






8. Machine for processing sales - giving change in a shop or restaurant.






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






10. A person who works for someone else in exchange for payment.






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






12. The rate of interest at which US banks lend money to their best corporate customers.






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






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






15. A country's exports minus its imports.






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






17. Multiple retail units under common ownership.






18. Selling items to a customer directly - for example via telephone - without a store being involved in the process.






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






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






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






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






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






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






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






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






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






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






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






30. The way in which a company is controlled.






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






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






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






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






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






36. Involving the use of natural resources and energy in a way that does not harm the environment.






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






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






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






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






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






42. Obstacles to international trade other than tariffs.






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






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






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






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






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






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






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






50. The support of a cause.