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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. 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.






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






3. When a price has been cut.






4. The support of a cause.






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






6. The money a state earns via taxation.






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






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






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






10. Multiple retail units under common ownership.






11. How companies try to show their products as being different from those of their rivals.






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






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






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






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






16. A voluntary sector or charity sector organization.






17. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.






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






19. Regular fluctuations in overall economic activity over time.






20. The variety of goods that a retailer sells.






21. Organization for Economic Cooperation and Development






22. The hub of retailing in a city - where the most office buildings and retail stores are.






23. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.






24. A shop or store.






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






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






27. A period of economic expansion.






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






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






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






31. A sign or symbol used by a company such as the Nike swish logo which is protected by law.






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






33. Meeting accepted guidelines or laws.






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






35. A period of shrinking economic activity.






36. A tax imposed on imports by the customs authority of a country.






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






38. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.






39. The total sum of a nation's outstanding debt.






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






41. 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.






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






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






44. 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.






45. Something that is required by law.






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






47. Confederation of British Industry






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






49. Someone who does something without being paid for it - e.g. working for a charity.






50. American Federation of Labour / Association of Industrial Organizations