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






2. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.






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






4. When budget spending exceeds revenue.






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






6. An area of land which has never been built on.






7. A retail outlet.






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






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






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






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






12. A minimum income level below which people are officially poor.






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






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






15. Confederation of British Industry






16. A system where a company allows someone to run a specific business using the company's products or brand in exchange for a fee or share of the profits - McDonalds is a famous franchise.






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






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






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






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






21. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.






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






23. American Federation of Labour / Association of Industrial Organizations






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






25. Trade Union Congress.






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






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






28. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.






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






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






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






32. The legal right of the owner of a work over its control and distribution.






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






34. A period where there is little economic activity - high unemployment and much poverty.






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






36. 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.






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






38. The different layers within a society e.g. class - income - education.






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






40. Organization for Economic Cooperation and Development






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






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






43. Regulations that mean permission from the government is required before certain items can be exported.






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






45. The money a state earns via taxation.






46. Volunteer organization for young - disadvantaged Americans.






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






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






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






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