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






2. A storeroom where items which cannot be put on display are stored.






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






4. Obstacles to international trade based on customs tariffs.






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






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






7. American Federation of Labour / Association of Industrial Organizations






8. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.






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






10. The money a state earns via taxation.






11. A test or way of measuring something.






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






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






14. Goods bought for private use.






15. The sum of money invested in new or additional equipment.






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






17. Relating to cities or built up areas - not the countryside.






18. Value of the entire company as expressed by its market capitalization.






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






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






21. Machine for processing sales - giving change in a shop or restaurant.






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






23. Patterns of relationships between different groups of society.






24. A country's exports minus its imports.






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






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






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






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






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






30. 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?






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






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






33. Trade Union Congress.






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






35. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.






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






37. The checking - ordering & processing of stock levels.






38. Over the Counter drug - a medication available directly at a drugstore without a doctor's prescription.






39. An individual or company buying from someone.






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






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






42. Something that is required by law.






43. A retail outlet.






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






45. Selling items to a customer directly - for example via telephone - without a store being involved in the process.






46. 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.






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






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






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






50. Refers to the number of distinct goods or services a retailer offers.