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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. Trade Union Congress.






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






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






4. A retail outlet.






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






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






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






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






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






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






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






12. 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.






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






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






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






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






17. An individual or company buying from someone.






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






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






20. A government-imposed tax on imports.






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






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






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






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






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






26. 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.






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






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






29. 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.






30. A period of decline in economic activity.






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






32. Something that is required by law.






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






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






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






36. The way in which a company is controlled.






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






38. When a private company provides a public service in agreement with a government or council.






39. A shop or store.






40. The rare situation when budget spending is smaller than revenue.






41. Patterns of relationships between different groups of society.






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






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






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






45. When governments try to stabilize economic activities by funding major projects from budget deficits.






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






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






48. 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.






49. Machine for processing sales - giving change in a shop or restaurant.






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