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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. Business wholly owned by its employees with the emphasis on group decision making.






2. Patterns of relationships between different groups of society.






3. When a price has been cut.






4. 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?






5. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






6. A government-imposed tax on imports.






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






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






9. The way in which a company is controlled.






10. A consultation document that sets out the government's position on a certain issue.






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






12. The resources used to produce goods and services - including land - labour - business and capital.






13. A retailer that concentrates on selling one particular type of good.






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






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






16. A person or organization which receives money from a charity.






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






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






19. Obstacles to international trade other than tariffs.






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






21. Something that is required by law.






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






23. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.






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






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






26. 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.






27. Goods bought for private use.






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






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






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






31. A period of shrinking economic activity.






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






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






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






35. The support of a cause.






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






37. Trade Union Congress.






38. Consumer goods that have a short life span - e.g. food or paper tissues.






39. Confederation of British Industry






40. 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.






41. A country's exports minus its imports.






42. 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.






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






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






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






46. Organization for Economic Cooperation and Development






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






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






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






50. A retail outlet.







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