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






2. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.






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






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






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






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






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






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






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






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






11. The rate of interest at which US banks lend money to their best corporate customers.






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






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






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






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






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






17. Organization for Economic Cooperation and Development






18. Process of communicating back and forth until an agreement has been reached.






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






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






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






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






23. How companies try to show their products as being different from those of their rivals.






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






25. A way of measuring performance by comparing a company to similar ones.






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






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






28. 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.






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






30. The different layers within a society e.g. class - income - education.






31. The legal right of the owner of a work over its control and distribution.






32. 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.






33. American Federation of Labour / Association of Industrial Organizations






34. Money which is spent on construction - land - machinery etc which has an expected working life of more than one year - investments in the future of a business.






35. A voluntary sector or charity sector organization.






36. 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.






37. When budget spending exceeds revenue.






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






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






40. Something that is bought without being planned for.






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






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






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






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






45. Trade Union Congress.






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






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






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






49. Development which can be done without harming the environment or natural resources.






50. The number of times during a period a business sells its inventory and replaces it.