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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 individual or company buying from someone.






2. An extremely adverse environmental condition.






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






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






5. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.






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






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






8. A government-imposed tax on imports.






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






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






11. Goods bought for private use.






12. A card payment system where the cost of goods or services is immediately removed from a bank account.






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






14. When a price has been cut.






15. A voluntary sector or charity sector organization.






16. When budget spending exceeds revenue.






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






18. The difference between merchandise costs and retail selling price.






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






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






21. A collection of shops under one roof with a shared entrance and food area.






22. The legal right of the owner of a work over its control and distribution.






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






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






25. A period of decline in economic activity.






26. The variety of goods that a retailer sells.






27. Patterns of relationships between different groups of society.






28. A period where there is little economic activity - high unemployment and much poverty.






29. Involving the use of natural resources and energy in a way that does not harm the environment.






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






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






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






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






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






35. A reduction in the selling price of an item in order to increase sales.






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






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






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






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






40. A tax imposed on imports by the customs authority of a country.






41. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.






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






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






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






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






46. Economic policies that use money e.g. interest rates or money supply as the major instruments.






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






48. The total sum of a nation's outstanding debt.






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






50. Trade Union Congress.