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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 minimum income level below which people are officially poor.






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






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






4. The violation of a law or right.






5. Multiple retail units under common ownership.






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






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






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






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






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






11. Meeting accepted guidelines or laws.






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






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






14. Patterns of relationships between different groups of society.






15. When a private company provides a public service in agreement with a government or council.






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






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






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






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






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






21. A period of shrinking economic activity.






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






23. The different layers within a society e.g. class - income - education.






24. Economic policies that use money e.g. interest rates or money supply as the major instruments.






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






26. When budget spending exceeds revenue.






27. A country's exports minus its imports.






28. Process of communicating back and forth until an agreement has been reached.






29. Central Business District - the largest retail and office area of a city - also known as downtown






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






31. A period where there is little economic activity - high unemployment and much poverty.






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






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






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






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






36. Regulations that mean permission from the government is required before certain items can be exported.






37. 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.






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






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






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






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






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






43. The money a state earns via taxation.






44. The system of organizations involved in moving a product from manufacturer to customer.






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






46. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.






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






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






49. Involving the use of natural resources and energy in a way that does not harm the environment.






50. The hub of retailing in a city - where the most office buildings and retail stores are.







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