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






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






3. A system where a company allows someone to run a specific business using the company's products or brand in exchange for a fee or share of the profits - McDonalds is a famous franchise.






4. A period of very high economic activity.






5. Organization for Economic Cooperation and Development






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






7. Economic policies that use taxation to correct the course of the economy e.g. lowering sales tax to encourage spending or raising interest rates to encourage saving.






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






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






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






11. An individual or company buying from someone.






12. 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.






13. A retail outlet.






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






15. American Federation of Labour / Association of Industrial Organizations






16. 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?






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






18. Volunteer organization for young - disadvantaged Americans.






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






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






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






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






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






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






25. 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.






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






27. When the exports a country makes exceed the imports.






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






29. The support of a cause.






30. Consumer goods that have a long life span - e.g. furniture.






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






32. Obstacles to international trade based on customs tariffs.






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






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






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






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






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






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






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






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






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






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






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






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






45. Items which a shop has and are available to buy.






46. An owner of shares or stocks in a company.






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






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






49. A collection of shops under one roof with a shared entrance and food area.






50. An enormous planned shopping centre with hundreds of stores under one roof.