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






2. A voluntary sector or charity sector organization.






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






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






5. A period of economic expansion.






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






7. A period of decline in economic activity.






8. A test or way of measuring something.






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






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






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






12. A shop or store.






13. The skills and knowledge needed to start and run a company.






14. 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.






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






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






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






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






19. When budget spending exceeds revenue.






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






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






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






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






24. Shows the flows of money into and out of a country plus transfer payments.






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






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






27. A large - long-term loan taken out to pay for a house.






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






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






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






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






32. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?






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






34. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.






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






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






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






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






39. 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.






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






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






42. Confederation of British Industry






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






44. 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.






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






46. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.






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






48. Something that is bought without being planned for.






49. A way of measuring performance by comparing a company to similar ones.






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