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






2. A way of measuring performance by comparing a company to similar ones.






3. A self-service food store with grocery - meat and produce departments.






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






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






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






7. The buying and selling of government securities by a central bank in order to control the money supply.






8. A period of decline in economic activity.






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






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






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






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






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






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






15. A large retail unit selling a wide variety of goods in separate departments.






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






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






18. The process of turning raw materials and parts into finished products.






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






20. A shop or store.






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






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






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






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






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






26. A voluntary sector or charity sector organization.






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






28. The customer group a retailer wants to attract and satisfy.






29. The percentage of people who do not have a job.






30. The support of a cause.






31. The money a state earns via taxation.






32. The balance between interest rates and the demand for money.






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






34. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.






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






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. A retail outlet.






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






39. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.






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






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






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






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






44. Something that is bought without being planned for.






45. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.






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






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






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






49. A retailing format that involves the coin- or card-operated dispensing of goods and services. It eliminates the use of sales personnel and allows around-the-clock sales.






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