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






2. When a small number of companies control a certain market.






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






4. Meeting accepted guidelines or laws.






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






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






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






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






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






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






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






12. American Federation of Labour / Association of Industrial Organizations






13. Economic policies designed to support business and help it expand.






14. A test or way of measuring something.






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






16. A period of economic expansion.






17. real Gross Domestic Product is the level of GDP having been adjusted for inflation.






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






19. Value of the entire company as expressed by its market capitalization.






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






21. A government-imposed tax on imports.






22. A country's exports minus its imports.






23. Government policies to cool down an economy and prevent inflation during boom periods.






24. The sum of money invested in new or additional equipment.






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






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






27. 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.






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






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






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






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






32. When budget spending exceeds revenue.






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






34. Trade Union Congress.






35. Announcing that a product is for sale - trying to persuade customers to buy a product or service.






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






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






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






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






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






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






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






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






44. Something which is a copy or imitation.






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






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






47. Statement of policy issued by a government which may form the basis of a future law.






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






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






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