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






2. Multiple retail units under common ownership.






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






4. An owner of shares or stocks in a company.






5. Meeting accepted guidelines or laws.






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






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






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






9. The support of a cause.






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






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






12. Trade Union Congress.






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






14. The way in which a company is controlled.






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






16. When a small number of companies control a certain market.






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






18. Regular fluctuations in overall economic activity over time.






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






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






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






22. Economic policies designed to support business and help it expand.






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






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






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






26. Patterns of relationships between different groups of society.






27. 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.






28. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.






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






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






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






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






33. An extremely adverse environmental condition.






34. A test or way of measuring something.






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






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






37. An individual or company buying from someone.






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






39. Someone who does something without being paid for it - e.g. working for a charity.






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






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






42. 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.






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






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






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






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






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






48. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






49. A person who works for someone else in exchange for payment.






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







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