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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. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.






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






3. A reduction in the selling price of an item in order to increase sales.






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






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






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






7. A period where there is little economic activity - high unemployment and much poverty.






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






9. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.






10. The sum of money invested in new or additional equipment.






11. Something that is required by law.






12. A period of shrinking economic activity.






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






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






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. Confederation of British Industry






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






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






19. When a price has been cut.






20. 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.






21. The variety of goods that a retailer sells.






22. American Federation of Labour / Association of Industrial Organizations






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






24. The balance between interest rates and the demand for money.






25. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).






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






27. An individual or company buying from someone.






28. The hub of retailing in a city - where the most office buildings and retail stores are.






29. When budget spending exceeds revenue.






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






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






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






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






34. A self-service food store with grocery - meat and produce departments.






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






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






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






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






39. An imitation of a product made with the intent to defraud a customer.






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






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






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






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






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






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






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






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






48. 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.






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






50. 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?