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






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






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






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






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






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






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






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






9. An item which is no longer produced by a manufacturer or sold by a retailer.






10. The way in which a company is controlled.






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






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






13. Items which a shop has and are available to buy.






14. The hub of retailing in a city - where the most office buildings and retail stores are.






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






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






17. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.






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






19. A computerised stock-control system which reorders stock automatically when it reaches a certain level.






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






21. Buying currency options that fix exchange rates for a period of time.






22. Obstacles to international trade based on customs tariffs.






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






24. When a price has been cut.






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






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






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






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






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






30. 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.






31. How companies try to show their products as being different from those of their rivals.






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






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






34. Patterns of relationships between different groups of society.






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






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






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






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






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






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






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






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






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






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






45. The violation of a law or right.






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






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






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






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






50. 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.