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






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






3. Financial aid by the government to an individual or group to support an activity that is in the public interest.






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






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






6. The way in which a company is controlled.






7. A period of decline in economic activity.






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






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






10. The money a state earns via taxation.






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






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






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






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






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






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






17. The number of times during a period a business sells its inventory and replaces it.






18. Goods bought for private use.






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






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






21. When governments try to stabilize economic activities by funding major projects from budget deficits.






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






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






24. The amount of wealth - money - comfort etc that a particular person - group or society has.






25. The total amount of money in circulation in a country.






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






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






28. A reduction in the selling price of an item in order to increase sales.






29. Confederation of British Industry






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






31. A voluntary sector or charity sector organization.






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






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






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






35. The amount of money a person has left after paying taxes and buying necessities.






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






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






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






39. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?






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 retailer that concentrates on selling one particular type of good.






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






43. The support of a cause.






44. A government-imposed tax on imports.






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






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






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






48. The total sum of goods and services in demand.






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






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