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. An extremely adverse environmental condition.






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






3. Something which is a copy or imitation.






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






5. A shop or store.






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






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






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






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






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






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






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






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






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






15. Goods bought and used by companies - such as machines. Also known as capital goods.






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






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






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






19. The percentage of a household's income that is saved.






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






21. The way in which a company is controlled.






22. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.






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






24. Meeting accepted guidelines or laws.






25. Government policies to cool down an economy and prevent inflation during boom periods.






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






27. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.






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






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






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






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






32. Products that can hold their own against rival products in terms of price - features or quality.






33. When budget spending exceeds revenue.






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






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






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






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






38. A period of decline in economic activity.






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






40. Organization for Economic Cooperation and Development






41. Confederation of British Industry






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






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






44. The amount of wealth - money - comfort etc that a particular person - group or society has.






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






46. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.






47. Buying currency options that fix exchange rates for a period of time.






48. 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?






49. The variety of goods that a retailer sells.






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