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. Patterns of relationships between different groups of society.






2. A voluntary sector or charity sector organization.






3. Something which is a copy or imitation.






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






5. Consumer goods that have a short life span - e.g. food or paper tissues.






6. A period where there is little economic activity - high unemployment and much poverty.






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






8. Something that is bought without being planned for.






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






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






11. A retail store that handles a wide variety of inexpensive and cheaply priced goods.






12. Focusing on a more specific line of products or services in comparison to competitors.






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






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






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






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






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






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






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






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






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






22. 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.






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






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






25. Organization for Economic Cooperation and Development






26. The variety of goods that a retailer sells.






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






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






29. The checking - ordering & processing of stock levels.






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






31. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






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






33. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?






34. The total amount of money in circulation in a country.






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






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






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






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






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






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






41. Confederation of British Industry






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






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






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






45. An extremely adverse environmental condition.






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






47. A government-imposed tax on imports.






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






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






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