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. Obstacles to international trade based on customs tariffs.






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






3. Connected with society and the way it is organized.






4. American Federation of Labour / Association of Industrial Organizations






5. The variety of goods that a retailer sells.






6. Exclusive ownership of a property for an indefinite period of time.






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






8. The resources used to produce goods and services - including land - labour - business and capital.






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






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






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






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






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






14. 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.






15. An individual or company buying from someone.






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






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






18. A country's exports minus its imports.






19. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.






20. The money a state earns via taxation.






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






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






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






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






25. When a price has been cut.






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






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






28. Something that is required by law.






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






30. Distribution of anything for use - including time or money.






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






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






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






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






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






36. Statement of policy issued by a government which may form the basis of a future law.






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






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






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






40. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.






41. A card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.






42. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.






43. Volunteer organization for young - disadvantaged Americans.






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






45. Obstacles to international trade other than tariffs.






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






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






48. The process of turning raw materials and parts into finished products.






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






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