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






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






3. A tax imposed on imports by the customs authority of a country.






4. 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.






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






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






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






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






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






10. The Federal Reserve - the US central banking system.






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






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






13. Items sold in a store during a certain period measuring in number of units or value.






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






15. Meeting accepted guidelines or laws.






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






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






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






19. Agreement that provided the basis for the formation of the European Union.






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






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






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






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






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






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






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






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






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






29. The violation of a law or right.






30. A period of shrinking economic activity.






31. Announcing that a product is for sale - trying to persuade customers to buy a product or service.






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






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






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






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






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






37. A storeroom where items which cannot be put on display are stored.






38. System in which good or services are exchanged for other goods or services rather than cash.






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






40. Confederation of British Industry






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






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






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






44. 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.






45. A reduction in price offered when buying an item in higher quantities.






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






47. A financial instrument that facilitates payment from one currency to another.






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






49. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.






50. An extremely adverse environmental condition.