Test your basic knowledge |

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. Patterns of relationships between different groups of society.






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






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






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






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






7. A reduction in the selling price of an item in order to increase sales.






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






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






10. 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.






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






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






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






14. The total sum of a nation's outstanding debt.






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






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






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






18. A sign or symbol used by a company such as the Nike swish logo which is protected by law.






19. Hiring an external company to perform tasks for a company and reduce costs.






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






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






22. Something which is a copy or imitation.






23. 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.






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






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






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






27. Confederation of British Industry






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






29. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.






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






31. Volunteer organization for young - disadvantaged Americans.






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






33. Obstacles to international trade other than tariffs.






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






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






36. Something that is required by law.






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






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






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






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






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






42. A retail outlet.






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






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






45. Trade Union Congress.






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






47. 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.






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






49. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.






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