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






2. 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.






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






4. The area of the economy that produces goods and provides services.






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






6. A country's exports minus its imports.






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






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






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






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






11. 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.






12. A shop or store.






13. An area of land which has never been built on.






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






15. Multiple retail units under common ownership.






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






17. An individual or company buying from someone.






18. Doing something (performing a process) to make a material ready for your requirments.






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






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






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






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






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






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






25. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.






26. Consumer goods that have a long life span - e.g. furniture.






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






28. 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.






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






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






31. The violation of a law or right.






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






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






34. A period of shrinking economic activity.






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






36. An area of countryside with planning restrictions to prevent a city growing bigger and bigger.






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






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






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






40. A reduction in the selling price of an item in order to increase sales.






41. The percentage of people who do not have a job.






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






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






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






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






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






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






48. When budget spending exceeds revenue.






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






50. The amount of money a person has left after paying taxes and buying necessities.