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






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






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






4. Hiring an external company to perform tasks for a company and reduce costs.






5. A government-imposed tax on imports.






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






7. Something that is bought without being planned for.






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






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






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






11. System in which good or services are exchanged for other goods or services rather than cash.






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






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






14. Organization for Economic Cooperation and Development






15. Regular fluctuations in overall economic activity over time.






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






17. Relating to cities or built up areas - not the countryside.






18. Trade Union Congress.






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






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






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






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






23. When a price has been cut.






24. The way in which a company is controlled.






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






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






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






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






29. When budget spending exceeds revenue.






30. Economic policies designed to support business and help it expand.






31. real Gross Domestic Product is the level of GDP having been adjusted for inflation.






32. Process of communicating back and forth until an agreement has been reached.






33. Someone who does something without being paid for it - e.g. working for a charity.






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






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






36. Economic policies that use taxation to correct the course of the economy e.g. lowering sales tax to encourage spending or raising interest rates to encourage saving.






37. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.






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






39. Shows the flows of money into and out of a country plus transfer payments.






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






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






42. Consumer goods that have a short life span - e.g. food or paper tissues.






43. 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.






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






45. The total sum of goods and services in demand.






46. A way of measuring performance by comparing a company to similar ones.






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






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






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






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