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






2. The money a state earns via taxation.






3. Shows the flows of money into and out of a country plus transfer payments.






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






5. Trade Union Congress.






6. A card payment system where the cost of goods or services is immediately removed from a bank account.






7. Confederation of British Industry






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






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






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






11. Imitating another company's ideas rather than developing your own.






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






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






14. When budget spending exceeds revenue.






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






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






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






18. Obstacles to international trade other than tariffs.






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






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






21. Intangible assets - the legal field relating to copyright - trademarks - patents and related rights.






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






23. The violation of a law or right.






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






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






26. A reduction in price offered when buying an item in higher quantities.






27. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.






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






29. A test or way of measuring something.






30. A country's exports minus its imports.






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






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






33. Machine for processing sales - taking payments - giving change. Also know as a cash register.






34. Electronic Data Interchange - a computerised system to allow retailers and suppliers to exchange information about stock levels - delivery times - unit prices etc.






35. A range of many things or people that are very different from each other.






36. When governments try to stabilize economic activities by funding major projects from budget deficits.






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






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






39. 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.






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






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






42. The amount of wealth - money - comfort etc that a particular person - group or society has.






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






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






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






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






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






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






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






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