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






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






3. A way of measuring performance by comparing a company to similar ones.






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






5. 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.






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






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






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






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






10. A medicine which is available without first getting a prescription from a doctor.






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






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






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






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






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






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






17. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.






18. Obstacles to international trade other than tariffs.






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






21. A retail outlet.






22. Patterns of relationships between different groups of society.






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






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






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






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






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






28. Relating to cities or built up areas - not the countryside.






29. 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.






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






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






32. 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.






33. Confederation of British Industry






34. A period of shrinking economic activity.






35. The checking - ordering & processing of stock levels.






36. The variety of goods that a retailer sells.






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






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






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






40. Goods bought for private use.






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






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






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






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






45. Organization for Economic Cooperation and Development






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






47. A period of economic expansion.






48. Development which can be done without harming the environment or natural resources.






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






50. A period of decline in economic activity.