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






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






3. 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.






4. An enormous planned shopping centre with hundreds of stores under one roof.






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






6. The variety of goods that a retailer sells.






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






8. The right to live in a home on a long-term tenancy.






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






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






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






12. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.






13. A period of economic expansion.






14. A government-imposed tax on imports.






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






16. A minimum income level below which people are officially poor.






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






18. An individual or company buying from someone.






19. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.






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






21. Meeting accepted guidelines or laws.






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






23. A shop or store.






24. An area of land which has never been built on.






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






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






27. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.






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






29. American Federation of Labour / Association of Industrial Organizations






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






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






32. A voluntary sector or charity sector organization.






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






34. The amount of money a person has left after paying taxes and buying necessities.






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






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






37. 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.






38. A retail outlet.






39. Confederation of British Industry






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






41. 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.






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






43. When a price has been cut.






44. Buying Power Index - a measure of a geographic area's market characteristics in terms of percentage of the US population - percentage of US retail sales and percentage of US effective buying income.






45. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.






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






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






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






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






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