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






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






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






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






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






6. Something which is a copy or imitation.






7. A retail outlet.






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






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






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






11. An individual or company buying from someone.






12. Something that is bought without being planned for.






13. Payments made like a bribe to encourage an official to allow something or get something done.






14. 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.






15. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?






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






17. When a private company provides a public service in agreement with a government or council.






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






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






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






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






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






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






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






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






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






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






28. Goods bought for private use.






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






30. 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.






31. A small owner-operated store serving a local community.






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






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






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






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






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






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






38. The variety of goods that a retailer sells.






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






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






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






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






43. A large retail unit selling a wide variety of goods in separate departments.






44. The support of a cause.






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






46. When a price has been cut.






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






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






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






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