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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 one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.






2. Meeting accepted guidelines or laws.






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






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






5. 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.






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






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






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






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






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






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






12. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.






13. When budget spending exceeds revenue.






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






15. 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.






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






17. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.






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






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






20. 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.






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






22. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.






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






24. An individual or company buying from someone.






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






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






27. Consumer goods that have a long life span - e.g. furniture.






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






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






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






31. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.






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






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






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






35. Obstacles to international trade other than tariffs.






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






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






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






39. Announcing that a product is for sale - trying to persuade customers to buy a product or service.






40. Sets of specific restraints imposed by governments on international trade.






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






42. Something that is bought without being planned for.






43. A tax imposed on imports by the customs authority of a country.






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






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






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






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






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






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






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