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    Learn English > English lessons and exercises > English test #124499: Vocabulary: Business
    >Warning: this test is waiting for approval. It may contain errors.
    > Other English exercises on the same topics: Idioms | Jobs | Find the word [Change theme]
    > Double-click on words you don't understand.


    Vocabulary: Business


     

    To experienced economists, this vocabulary, though a little technical, will be easily understood. For average people who are simple consumers, not every word or expression will be clear... Only pick the concepts that you must understand and/ or use and which are very frequently heard in our present economic context.

     

                                                           

                                                                         A breach of contract...

     

     A company                                                                 A business
     A firm   To be in business
     To run a business   To deal/ trade in  
     Trade/ trading   A trade/ trading agreement               
     To sign/ cancel a contract                                                                                                     A breach of contract

    x

               

    To compete=> a competition                 Trademark...                                  Rock bottom prices

     

     A businessman/ woman                                                        A head of a company
     The entrepreneurial spirit   To set up a company
     To set up one's own business   To set up a business on one's own      
     The brand image
       A brand/ a make
     A registered trademark
       A patent
     The law of supply and demand                                                                                                     Competition
     Unfair competition   To compete with sb/ sth 
     A competitor  Competitive
     Rock-bottom prices   Marketing
     To market   To do some market research
     A gap in the market  An outlet

     The home market

     The domestic market

      The mark-up
     A profit margin  A loss
     Gross/ net  The turnover

     

                                                                    

                 A branch/ a mark                                                                           unfair competition

     

    A FEW EXPRESSIONS:

    - to meet the needs of the customer (to satisfy them)

    - to launch a product (to start selling a new product)

    - to break into new markets

    - to capture a market

    - to carve out a share of the market

    - to establish oneself  in a market

    - to saturate the market

    - business is good/ is bad!  Business is uncountable (verb in the singular)

    - to go into voluntary liquidation

    - to go into compulsory liquidation

     

     The financial year                                                                                                     The balance sheet 
     Assets   Liabilities
     Receipts   Takings
     Outgoings  Overheads/ oncosts                                  

     

                                                               

                            Why organise drive sales?

     A sales drive                                                                             A sample
     A trade fair   An exhibitor
     To make a profit     To be in deficit
     Compulsory liquidation                             To go bankrupt/ bankruptcy                    
     To refloat a company   A rescue plan

    There's a HUGE difference between a "Trade fair" (or show/ exhibition) and The "Fair trade" (trade carried on under a fair-trade agreement.)

     

    These words and expressions are very frequently heard, but not everyone of us has complete understanding and mastery of them...

    Don't worry! In the test, there's no trap, and you should all pass with flying colours! Go for it!

     

     



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