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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. Volunteer organization for young - disadvantaged Americans.






2. The skills and knowledge needed to start and run a company.






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






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






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






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






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






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






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






10. Selling items to a customer directly - for example via telephone - without a store being involved in the process.






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






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






13. 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.






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






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






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






17. A voluntary sector or charity sector organization.






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






19. The variety of goods that a retailer sells.






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






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






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






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






24. Announcing that a product is for sale - trying to persuade customers to buy a product or service.






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






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






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






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






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






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






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






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






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






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






35. American Federation of Labour / Association of Industrial Organizations






36. The customer group a retailer wants to attract and satisfy.






37. Trade Union Congress.






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






39. Economic policies that use taxation to correct the course of the economy e.g. lowering sales tax to encourage spending or raising interest rates to encourage saving.






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






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






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






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






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






45. The violation of a law or right.






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






47. An economic sanction that forbids the import of a specific product or all products from a specific country.






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






49. 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.






50. The way in which a company is controlled.