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






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






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






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






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






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






7. The Federal Reserve - the US central banking system.






8. Money which is spent on construction - land - machinery etc which has an expected working life of more than one year - investments in the future of a business.






9. Government policies to cool down an economy and prevent inflation during boom periods.






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






11. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.






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






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






14. American Federation of Labour / Association of Industrial Organizations






15. Obstacles to international trade based on customs tariffs.






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






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






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






19. 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?






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






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






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






23. Development which can be done without harming the environment or natural resources.






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






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






26. 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.






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






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






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






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






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






32. A reduction in price offered when buying an item in higher quantities.






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






34. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.






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






36. Items sold in a store during a certain period measuring in number of units or value.






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






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






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






40. real Gross Domestic Product is the level of GDP having been adjusted for inflation.






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






42. 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.






43. An individual or company buying from someone.






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






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






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






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






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






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






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







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests