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






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






3. A period of decline in economic activity.






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






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






6. Meeting accepted guidelines or laws.






7. Distribution of anything for use - including time or money.






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






9. 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.






10. A retail store that handles a wide variety of inexpensive and cheaply priced goods.






11. An individual or company buying from someone.






12. An item which is no longer produced by a manufacturer or sold by a retailer.






13. 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.






14. 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.






15. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.






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






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






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






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






20. A person who works for someone else in exchange for payment.






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






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






23. American Federation of Labour / Association of Industrial Organizations






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






25. Obstacles to international trade other than tariffs.






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






27. Something that is required by law.






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






29. Items in a store which have not sold for a longer period of time.






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






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






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






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






34. An extremely adverse environmental condition.






35. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






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






37. The area of the economy that produces goods and provides services.






38. When the amount borrowed to pay for a home is now more than the property is actually worth.






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






40. The Federal Reserve - the US central banking system.






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






42. The difference between merchandise costs and retail selling price.






43. When the imports into a country exceed the exports going out of a country.






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






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






46. Financial aid by the government to an individual or group to support an activity that is in the public interest.






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






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






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






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