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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 difference between merchandise costs and retail selling price.






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






3. When budget spending exceeds revenue.






4. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.






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






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






7. A retailing format that involves the coin- or card-operated dispensing of goods and services. It eliminates the use of sales personnel and allows around-the-clock sales.






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






9. Confederation of British Industry






10. Something that is required by law.






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






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






13. A test or way of measuring something.






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






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






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






17. The support of a cause.






18. Something which is a copy or imitation.






19. Fast Moving Consumer Goods - frequently purchased consumer items such as foods - cleaning products and toiletries.






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






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






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






23. The percentage of a household's income that is saved.






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






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






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






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






28. The way in which a company is controlled.






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






30. When a price has been cut.






31. Payments made like a bribe to encourage an official to allow something or get something done.






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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






47. Obstacles to international trade other than tariffs.






48. A period of shrinking economic activity.






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






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