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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. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.






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






3. The legal right of the owner of a work over its control and distribution.






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






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






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






7. Organization for Economic Cooperation and Development






8. A period of very high economic activity.






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






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






11. Ability to continue for a long time - involving the use of natural products and energy not harmful to the environment.






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






13. An enormous planned shopping centre with hundreds of stores under one roof.






14. Items sold in a store during a certain period measuring in number of units or value.






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






16. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.






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






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






19. Something that is bought without being planned for.






20. 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.






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






22. Obstacles to international trade other than tariffs.






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






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






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






26. A country's exports minus its imports.






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






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






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






30. 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.






31. A period of economic expansion.






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






33. The right to live in a home on a long-term tenancy.






34. 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?






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






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






37. When budget spending exceeds revenue.






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






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






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






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






42. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.






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






44. Trade Union Congress.






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






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






47. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.






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






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






50. When the amount borrowed to pay for a home is now more than the property is actually worth.