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






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






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






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






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






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






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






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






9. A sign or symbol used by a company such as the Nike swish logo which is protected by law.






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






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






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






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






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






15. Imitating another company's ideas rather than developing your own.






16. 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.






17. A shop or store.






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






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






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






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






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






23. The violation of a law or right.






24. 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.






25. The area of the economy that produces goods and provides services.






26. Confederation of British Industry






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






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






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






30. Meeting accepted guidelines or laws.






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






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






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






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






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






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






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






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






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






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






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






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






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






44. The total sum of a nation's outstanding debt.






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






46. The right to live in a home on a long-term tenancy.






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






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






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






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