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






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






3. Regular fluctuations in overall economic activity over time.






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






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






6. The customer group a retailer wants to attract and satisfy.






7. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.






8. Patterns of relationships between different groups of society.






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






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






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






12. Development which can be done without harming the environment or natural resources.






13. When the exports a country makes exceed the imports.






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






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






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






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






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






19. The way in which a company is controlled.






20. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.






21. 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.






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






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






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






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






26. The variety of goods that a retailer sells.






27. How companies try to show their products as being different from those of their rivals.






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






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






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






31. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).






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






33. World Trade Organization - governing body that establishes worldwide rules for trade and commerce.






34. 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.






35. Confederation of British Industry






36. A period of very high economic activity.






37. Trade Union Congress.






38. An individual or company buying from someone.






39. Goods made by major companies sold in a store under the store's own name - also known as own-label brands.






40. The process of turning raw materials and parts into finished products.






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






42. A country's exports minus its imports.






43. The percentage of a household's income that is saved.






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






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






46. Meeting accepted guidelines or laws.






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






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






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






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







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