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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. A period of economic expansion.






3. Something that is bought without being planned for.






4. Items which a shop has and are available to buy.






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






6. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.






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






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






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






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






11. 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.






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






13. The amount of wealth - money - comfort etc that a particular person - group or society has.






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






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






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






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






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






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






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






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






22. A period of shrinking economic activity.






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






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






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






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






27. Obstacles to international trade other than tariffs.






28. An extremely adverse environmental condition.






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






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






31. When the exports a country makes exceed the imports.






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






33. When a small number of companies control a certain market.






34. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.






35. Regular fluctuations in overall economic activity over time.






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






37. A period of very high economic activity.






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






39. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.






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






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






42. The rate of interest at which US banks lend money to their best corporate customers.






43. When a private company provides a public service in agreement with a government or council.






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






45. Payments made like a bribe to encourage an official to allow something or get something done.






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






47. 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?






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






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






50. The violation of a law or right.