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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 purchase of a financial product or other item of value with the hope that it will become more valuable.






2. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?






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






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






5. Money which is spent on construction - land - machinery etc which has an expected working life of more than one year - investments in the future of a business.






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






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






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






9. Machine for processing sales - taking payments - giving change. Also know as a cash register.






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






11. 1. The sum of the balance of trade plus net factor income (interest dividends) plus net transfer payments (foreign aid).2. Low or no-interest bank account used for daily transactions e.g. using an ATM - with a cheque book or debit card.






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






13. The different layers within a society e.g. class - income - education.






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






15. A person or organization which receives money from a charity.






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






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






18. A large retail unit selling a wide variety of goods in separate departments.






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






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






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






22. A shop or store.






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






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






25. A medicine which is available without first getting a prescription from a doctor.






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






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






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






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






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






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






32. The support of a cause.






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






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






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






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






37. A consultation document that sets out the government's position on a certain issue.






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






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






40. Organization for Economic Cooperation and Development






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






42. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.






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






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






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






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






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






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






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






50. A government-imposed tax on imports.







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