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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 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.






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






3. When a company reduces their output during a recession they have excess or idle capacity.






4. A period of shrinking economic activity.






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






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






7. The support of a cause.






8. 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.






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






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






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






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






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






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






15. The percentage of a household's income that is saved.






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






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






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






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






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






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






22. A card payment system where the cost of goods or services is immediately removed from a bank account.






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






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






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






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






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






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






29. A country's exports minus its imports.






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






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






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






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






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






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






36. An area of land which has never been built on.






37. Something that is bought without being planned for.






38. A retail outlet.






39. American Federation of Labour / Association of Industrial Organizations






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






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






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






43. The customer group a retailer wants to attract and satisfy.






44. Volunteer organization for young - disadvantaged Americans.






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






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






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






48. An individual or company buying from someone.






49. The system of organizations involved in moving a product from manufacturer to customer.






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