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






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






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






4. A test or way of measuring something.






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






6. A voluntary sector or charity sector organization.






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






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






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






10. Value of the entire company as expressed by its market capitalization.






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






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






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






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






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






16. A country's exports minus its imports.






17. The violation of a law or right.






18. An owner of shares or stocks in a company.






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






20. Exclusive ownership of a property for an indefinite period of time.






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






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






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






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






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






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






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






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






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






30. Volunteer organization for young - disadvantaged Americans.






31. An individual or company buying from someone.






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






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






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






35. Patterns of relationships between different groups of society.






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






37. A small owner-operated store serving a local community.






38. The percentage of people who do not have a job.






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






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






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






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






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






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






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






46. An extremely adverse environmental condition.






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






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






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






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