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






2. Trade Union Congress.






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






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






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






6. Something that is bought without being planned for.






7. The purchase of a financial product or other item of value with the hope that it will become more valuable.






8. Confederation of British Industry






9. The support of a cause.






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






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






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






13. The violation of a law or right.






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






15. Obstacles to international trade based on customs tariffs.






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






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






18. A shop or store.






19. A government-imposed tax on imports.






20. The legal right of the owner of a work over its control and distribution.






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






22. The number of times during a period a business sells its inventory and replaces it.






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






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






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






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






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






28. When a customer regularly uses a store they know - like and trust.






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. Patterns of relationships between different groups of society.






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






32. Giving people the freedom to decide things and take responsibility for themselves.






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






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






35. 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.






36. A retail outlet.






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






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






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






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






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






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






43. A period of decline in economic activity.






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






45. An extremely adverse environmental condition.






46. The variety of goods that a retailer sells.






47. A person who works for someone else in exchange for payment.






48. 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.






49. 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.






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