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






2. An individual or company buying from someone.






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






4. Announcing that a product is for sale - trying to persuade customers to buy a product or service.






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






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






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






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






9. Something that is bought without being planned for.






10. Giving people the freedom to decide things and take responsibility for themselves.






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






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






13. A financial instrument that facilitates payment from one currency to another.






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






15. The system of organizations involved in moving a product from manufacturer to customer.






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






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






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






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






20. A country's exports minus its imports.






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






22. A period of economic expansion.






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






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






25. A self-service food store with grocery - meat and produce departments.






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






27. A period of decline in economic activity.






28. 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.






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






30. A period of very high economic activity.






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






32. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.






33. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.






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






35. Trade Union Congress.






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






37. The checking - ordering & processing of stock levels.






38. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.






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






40. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.






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






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






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






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






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






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






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






48. The variety of goods that a retailer sells.






49. Agreement that provided the basis for the formation of the European Union.






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