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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 minimum income level below which people are officially poor.






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






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






5. An economic sanction that forbids the import of a specific product or all products from a specific country.






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






7. A shop or store.






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






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






10. Volunteer organization for young - disadvantaged Americans.






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






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






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






14. Machine for processing sales - giving change in a shop or restaurant.






15. Something that is bought without being planned for.






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






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






18. A reduction in price offered when buying an item in higher quantities.






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






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






21. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.






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






23. Patterns of relationships between different groups of society.






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






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






26. Something that is required by law.






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






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






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






30. Organization for Economic Cooperation and Development






31. Meeting accepted guidelines or laws.






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






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






34. American Federation of Labour / Association of Industrial Organizations






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






36. 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.






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






38. Something which is a copy or imitation.






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






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






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






42. The rare situation when budget spending is smaller than revenue.






43. Goods bought for private use.






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






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






46. Multiple retail units under common ownership.






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






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






49. The money a state earns via taxation.






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






Can you answer 50 questions in 15 minutes?



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