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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 large - long-term loan taken out to pay for a house.






2. An extremely adverse environmental condition.






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






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






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






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






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






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






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






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






11. A period of shrinking economic activity.






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






13. American Federation of Labour / Association of Industrial Organizations






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






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






16. Patterns of relationships between different groups of society.






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






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






19. Multiple retail units under common ownership.






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






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






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






23. 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.






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






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






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






27. Statement of policy issued by a government which may form the basis of a future law.






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






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






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






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






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






33. Giving people the freedom to decide things and take responsibility for themselves.






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






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






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






37. Exclusive ownership of a property for an indefinite period of time.






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






39. The variety of goods that a retailer sells.






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






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






42. Obstacles to international trade based on customs tariffs.






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






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






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






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






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






48. 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.






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






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