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






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






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






5. Doing something (performing a process) to make a material ready for your requirments.






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






7. Volunteer organization for young - disadvantaged Americans.






8. Trade Union Congress.






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






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






11. 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.






12. A test or way of measuring something.






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






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






15. A shop or store.






16. Items sold in a store during a certain period measuring in number of units or value.






17. An individual or company buying from someone.






18. A large - long-term loan taken out to pay for a house.






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






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






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






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






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






24. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.






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






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






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






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






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






30. The violation of a law or right.






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






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






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






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






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






36. 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.






37. Organization for Economic Cooperation and Development






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






39. Economic policies that use money e.g. interest rates or money supply as the major instruments.






40. A period of shrinking economic activity.






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






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






43. Hiring an external company to perform tasks for a company and reduce costs.






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






45. A minimum income level below which people are officially poor.






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






47. When the amount borrowed to pay for a home is now more than the property is actually worth.






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






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






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







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