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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. An individual or company buying from someone.






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






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






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






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






6. Organization for Economic Cooperation and Development






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






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






9. Products that can hold their own against rival products in terms of price - features or quality.






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






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






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






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






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






15. The system of organizations involved in moving a product from manufacturer to customer.






16. A retail store that handles a wide variety of inexpensive and cheaply priced goods.






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






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






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






20. A company's main products - e.g. Opel's core product is cars.






21. 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.






22. The checking - ordering & processing of stock levels.






23. Goods bought for private use.






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






25. A period of shrinking economic activity.






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






27. Distribution of anything for use - including time or money.






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






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






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






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






32. A consultation document that sets out the government's position on a certain issue.






33. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.






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






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






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






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






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






39. Sets of specific restraints imposed by governments on international trade.






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






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






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






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






44. The variety of goods that a retailer sells.






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






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






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






48. When a price has been cut.






49. 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.






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