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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. Trade Union Congress.






2. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.






3. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.






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






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






6. 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.






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






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






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






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






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






12. Multiple retail units under common ownership.






13. A period of decline in economic activity.






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






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






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






17. Something that is bought without being planned for.






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






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






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






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






22. The legal right of the owner of a work over its control and distribution.






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






24. Payments made like a bribe to encourage an official to allow something or get something done.






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






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






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






28. Goods bought for private use.






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






30. A retailer that concentrates on selling one particular type of good.






31. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.






32. Giving people the freedom to decide things and take responsibility for themselves.






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






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






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






36. The number of times during a period a business sells its inventory and replaces it.






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






38. 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.






39. When budget spending exceeds revenue.






40. When a customer regularly uses a store they know - like and trust.






41. Consumer goods that have a short life span - e.g. food or paper tissues.






42. A retail outlet.






43. Refers to the number of distinct goods or services a retailer offers.






44. Doing something (performing a process) to make a material ready for your requirments.






45. System in which good or services are exchanged for other goods or services rather than cash.






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






47. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).






48. Regular fluctuations in overall economic activity over time.






49. The way in which a company is controlled.






50. The violation of a law or right.