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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. The money a state earns via taxation.






2. Multiple retail units under common ownership.






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






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






5. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.






6. Trade Union Congress.






7. When the amount borrowed to pay for a home is now more than the property is actually worth.






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






9. Doing something (performing a process) to make a material ready for your requirments.






10. 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.






11. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.






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






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






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






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






16. Agreement that provided the basis for the formation of the European Union.






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






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






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






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






21. The violation of a law or right.






22. A card payment system where the cost of goods or services is immediately removed from a bank account.






23. The total amount of money in circulation in a country.






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






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






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






27. A country's exports minus its imports.






28. When a company reduces their output during a recession they have excess or idle capacity.






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






30. Confederation of British Industry






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






32. Economic policies designed to support business and help it expand.






33. When budget spending exceeds revenue.






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






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






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






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






38. The purchase of a financial product or other item of value with the hope that it will become more valuable.






39. A government-imposed tax on imports.






40. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.






41. Organization for Economic Cooperation and Development






42. The support of a cause.






43. An extremely adverse environmental condition.






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






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






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






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






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






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






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