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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. Money which is spent on construction - land - machinery etc which has an expected working life of more than one year - investments in the future of a business.






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






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






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






5. 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.






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






7. A test or way of measuring something.






8. A period of decline in economic activity.






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






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






11. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.






12. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






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






14. Confederation of British Industry






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






16. A shop or store.






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






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






19. Electronic Point of Sale - performs all the tasks of a computerised checkout - storing details of a sale - adjusting stock levels - processing electronic payments etc.






20. The variety of goods that a retailer sells.






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






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






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






24. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.






25. 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.






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






27. 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.






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






29. Goods bought and used by companies - such as machines. Also known as capital goods.






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






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






32. The Federal Reserve - the US central banking system.






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






34. A financial instrument that facilitates payment from one currency to another.






35. Organization for Economic Cooperation and Development






36. An economic sanction that forbids the import of a specific product or all products from a specific country.






37. Foreign Direct Investment - when a company from one country has a controlling interest in a company in another country.






38. Regular fluctuations in overall economic activity over time.






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






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






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






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






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






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






45. Giving people the freedom to decide things and take responsibility for themselves.






46. A period of economic expansion.






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






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






49. Obstacles to international trade based on customs tariffs.






50. Something which is a copy or imitation.







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