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






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






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






4. Organization for Economic Cooperation and Development






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






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






7. A country's exports minus its imports.






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






9. The skills and knowledge needed to start and run a company.






10. 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.






11. Buying Power Index - a measure of a geographic area's market characteristics in terms of percentage of the US population - percentage of US retail sales and percentage of US effective buying income.






12. The variety of goods that a retailer sells.






13. Someone who does something without being paid for it - e.g. working for a charity.






14. A test or way of measuring something.






15. A country or region with low or no taxes on foreign source income like Monacco or the Bahamas.






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






17. Obstacles to international trade based on customs tariffs.






18. Meeting accepted guidelines or laws.






19. The system of organizations involved in moving a product from manufacturer to customer.






20. An individual or company buying from someone.






21. Trade Union Congress.






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






23. The money a state earns via taxation.






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






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






26. A government-imposed tax on imports.






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






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






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






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






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






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






33. A way of measuring performance by comparing a company to similar ones.






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






35. The amount of money a person has left after paying taxes and buying necessities.






36. A period of decline in economic activity.






37. A period where there is little economic activity - high unemployment and much poverty.






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






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






40. When the imports into a country exceed the exports going out of a country.






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






42. A sign or symbol used by a company such as the Nike swish logo which is protected by law.






43. The hub of retailing in a city - where the most office buildings and retail stores are.






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






45. Focusing on a more specific line of products or services in comparison to competitors.






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






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






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






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






50. When a price has been cut.