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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. The difference between merchandise costs and retail selling price.






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






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






4. Goods bought for private use.






5. Shows the flows of money into and out of a country plus transfer payments.






6. A government-imposed tax on imports.






7. Volunteer organization for young - disadvantaged Americans.






8. 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.






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






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






11. A small owner-operated store serving a local community.






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






13. The area of the economy that produces goods and provides services.






14. When the imports into a country exceed the exports going out of a country.






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






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






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






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






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






20. An extremely adverse environmental condition.






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






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






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






24. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.






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






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






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






28. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.






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






30. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.






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






32. Obstacles to international trade other than tariffs.






33. Buying Power Index - a measure of a geographic area's market characteristics in terms of percentage of the US population - percentage of US retail sales and percentage of US effective buying income.






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






35. A range of many things or people that are very different from each other.






36. The variety of goods that a retailer sells.






37. Central Business District - the largest retail and office area of a city - also known as downtown






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






39. Business wholly owned by its employees with the emphasis on group decision making.






40. Confederation of British Industry






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






42. The support of a cause.






43. Trade Union Congress.






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






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






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






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






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






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






50. The violation of a law or right.