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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 person or organization which receives money from a charity.






2. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.






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






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






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






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






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






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






9. When the exports a country makes exceed the imports.






10. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.






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






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






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






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






15. A country's exports minus its imports.






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






17. The process of turning raw materials and parts into finished products.






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






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






20. Items in a store which have not sold for a longer period of time.






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






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






23. An extremely adverse environmental condition.






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






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






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






27. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).






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






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






30. Trade Union Congress.






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






32. An individual or company buying from someone.






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






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






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






36. 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.






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






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






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






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






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






42. Confederation of British Industry






43. An enormous planned shopping centre with hundreds of stores under one roof.






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






45. A computerised stock-control system which reorders stock automatically when it reaches a certain level.






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






47. A period of shrinking economic activity.






48. A period of economic expansion.






49. Something that is required by law.






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