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






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






3. The violation of a law or right.






4. 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.






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






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






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






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






9. The rare situation when budget spending is smaller than revenue.






10. Money which is spent on construction - land - machinery etc which has an expected working life of more than one year - investments in the future of a business.






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






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






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






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






15. A self-service food store with grocery - meat and produce departments.






16. Regulations that mean permission from the government is required before certain items can be exported.






17. An economic sanction that forbids the import of a specific product or all products from a specific country.






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






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






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






21. When a price has been cut.






22. An imitation of a product made with the intent to defraud a customer.






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






24. When a small number of companies control a certain market.






25. 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.






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






27. A voluntary sector or charity sector organization.






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






29. When a private company provides a public service in agreement with a government or council.






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






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






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






33. Multiple retail units under common ownership.






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






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






36. Patterns of relationships between different groups of society.






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






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






39. 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.






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






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






42. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.






43. A retail outlet.






44. Something which is a copy or imitation.






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






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






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






48. Obstacles to international trade based on customs tariffs.






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






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