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






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






3. Something that is bought without being planned for.






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






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






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






7. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.






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






9. 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?






10. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.






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






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






13. Imitating another company's ideas rather than developing your own.






14. Obstacles to international trade other than tariffs.






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






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






17. The system of organizations involved in moving a product from manufacturer to customer.






18. Usually software where the source code is made freely available for all users to change as they see fit.






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






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






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






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






23. Multiple retail units under common ownership.






24. A shop or store.






25. Development which can be done without harming the environment or natural resources.






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






27. 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.






28. Buying currency options that fix exchange rates for a period of time.






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






30. Regulations that mean permission from the government is required before certain items can be exported.






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






32. The total amount of money in circulation in a country.






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






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






35. The money a state earns via taxation.






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






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






38. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.






39. When budget spending exceeds revenue.






40. A voluntary sector or charity sector organization.






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






42. A range of many things or people that are very different from each other.






43. A period of shrinking economic activity.






44. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.






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






46. A system where a company allows someone to run a specific business using the company's products or brand in exchange for a fee or share of the profits - McDonalds is a famous franchise.






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






48. Patterns of relationships between different groups of society.






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






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