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






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






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






4. A shop or store.






5. Organization for Economic Cooperation and Development






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






7. A country's exports minus its imports.






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






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






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






11. The buying and selling of government securities by a central bank in order to control the money supply.






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






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






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






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






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






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






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






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






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






22. A government-imposed tax on imports.






23. An enormous planned shopping centre with hundreds of stores under one roof.






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






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






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






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






28. Patterns of relationships between different groups of society.






29. A period of economic expansion.






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






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






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






33. A voluntary sector or charity sector organization.






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






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






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






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






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






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






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






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






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






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






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






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






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






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






48. Connected with society and the way it is organized.






49. The support of a cause.






50. Something that is required by law.