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






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






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






4. Obstacles to international trade other than tariffs.






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






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






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






8. When budget spending exceeds revenue.






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






10. The resources used to produce goods and services - including land - labour - business and capital.






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






12. Process of communicating back and forth until an agreement has been reached.






13. The way in which a company is controlled.






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






15. Patterns of relationships between different groups of society.






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






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






18. 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.






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






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






21. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.






22. A retail outlet.






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






24. When a price has been cut.






25. Regular fluctuations in overall economic activity over time.






26. Hiring an external company to perform tasks for a company and reduce costs.






27. A computerised stock-control system which reorders stock automatically when it reaches a certain level.






28. Something which is a copy or imitation.






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






30. A period of decline in economic activity.






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






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






33. A person who works for someone else in exchange for payment.






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






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






36. Economic policies that use money e.g. interest rates or money supply as the major instruments.






37. The percentage of a household's income that is saved.






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






39. Confederation of British Industry






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






41. An owner of shares or stocks in a company.






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






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






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






45. Multiple retail units under common ownership.






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






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






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






49. 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.






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