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






2. Something which is a copy or imitation.






3. Announcing that a product is for sale - trying to persuade customers to buy a product or service.






4. A period of shrinking economic activity.






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






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






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






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






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






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






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






12. Statement of policy issued by a government which may form the basis of a future law.






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






14. Shows the flows of money into and out of a country plus transfer payments.






15. Multiple retail units under common ownership.






16. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.






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






18. A voluntary sector or charity sector organization.






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






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






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






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






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






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






25. The variety of goods that a retailer sells.






26. A shop or store.






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






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






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






30. 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?






31. 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.






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






33. A country's exports minus its imports.






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






35. The different layers within a society e.g. class - income - education.






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






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






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






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






40. The violation of a law or right.






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






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






43. When a price has been cut.






44. Relating to cities or built up areas - not the countryside.






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






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






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






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






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






50. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.







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