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






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






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






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






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






6. American Federation of Labour / Association of Industrial Organizations






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






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






9. Patterns of relationships between different groups of society.






10. Something that is required by law.






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






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






13. Relating to cities or built up areas - not the countryside.






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






15. Volunteer organization for young - disadvantaged Americans.






16. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






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






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






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






20. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.






21. A period of very high economic activity.






22. The way in which a company is controlled.






23. The violation of a law or right.






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






25. Obstacles to international trade other than tariffs.






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






27. Something which is a copy or imitation.






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






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






30. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.






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






32. Obstacles to international trade based on customs tariffs.






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






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






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






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






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






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






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






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






41. The resources used to produce goods and services - including land - labour - business and capital.






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






43. A period of economic expansion.






44. Buying currency options that fix exchange rates for a period of time.






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






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






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






48. A shop or store.






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






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