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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 period where there is little economic activity - high unemployment and much poverty.






2. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.






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






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






5. Meeting accepted guidelines or laws.






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






7. Confederation of British Industry






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






9. A country's exports minus its imports.






10. The amount of wealth - money - comfort etc that a particular person - group or society has.






11. Something which is a copy or imitation.






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






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






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






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






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






17. 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.






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






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






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






21. Goods bought and used by companies - such as machines. Also known as capital goods.






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






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






24. The total sum of goods and services in demand.






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






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






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






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






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






30. A voluntary sector or charity sector organization.






31. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.






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






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






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






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






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






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






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






39. 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.






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






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






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






43. Regulations that mean permission from the government is required before certain items can be exported.






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






45. The customer group a retailer wants to attract and satisfy.






46. Goods bought for private use.






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






48. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).






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






50. An area of land which has never been built on.