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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 card given to customers to collect points towards gifts with the aim to make the customer return to the business regularly.






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






3. A shop or store.






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






5. A person or organization which receives money from a charity.






6. 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.






7. Something which is a copy or imitation.






8. The difference between merchandise costs and retail selling price.






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






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






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






12. American Federation of Labour / Association of Industrial Organizations






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






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






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






16. When a company reduces their output during a recession they have excess or idle capacity.






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






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






19. A period of shrinking economic activity.






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






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






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






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






24. 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.






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






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






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






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






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






30. 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.






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






32. Something that is bought without being planned for.






33. A retail store that handles a wide variety of inexpensive and cheaply priced goods.






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






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






36. The variety of goods that a retailer sells.






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






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






39. Obstacles to international trade based on customs tariffs.






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






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






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






43. Something that is required by law.






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






45. Organization for Economic Cooperation and Development






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






47. A period of economic expansion.






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






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






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