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






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






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






4. A company's main products - e.g. Opel's core product is cars.






5. A shop or store.






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






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






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






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






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






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






12. A retail outlet.






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






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






15. 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.






16. Usually software where the source code is made freely available for all users to change as they see fit.






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






18. Something which is a copy or imitation.






19. 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.






20. Obstacles to international trade based on customs tariffs.






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






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






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






24. The Federal Reserve - the US central banking system.






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






26. Obstacles to international trade other than tariffs.






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






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






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






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






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






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






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






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






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






36. Meeting accepted guidelines or laws.






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






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






39. Regular fluctuations in overall economic activity over time.






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






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






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






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






44. Patterns of relationships between different groups of society.






45. A period of decline in economic activity.






46. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.






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






48. Government policies to cool down an economy and prevent inflation during boom periods.






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






50. The violation of a law or right.