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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 money a state earns via taxation.






2. Something that is required by law.






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






4. Multiple retail units under common ownership.






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






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






7. The area of the economy that produces goods and provides services.






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






9. The total sum of a nation's outstanding debt.






10. A period of economic expansion.






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






12. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.






13. 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.






14. Obstacles to international trade based on customs tariffs.






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






16. The percentage of people who do not have a job.






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






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






19. When a price has been cut.






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






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






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






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






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






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






26. A self-service food store with grocery - meat and produce departments.






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






28. The customer group a retailer wants to attract and satisfy.






29. A pricing strategy when a retailer tries to sell lots of products using low prices - high stock levels - extensive advertising etc.






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






31. Machine for processing sales - giving change in a shop or restaurant.






32. Regular fluctuations in overall economic activity over time.






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






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






35. 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.






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






37. Involving the use of natural resources and energy in a way that does not harm the environment.






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






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






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






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






42. Financial aid by the government to an individual or group to support an activity that is in the public interest.






43. The variety of goods that a retailer sells.






44. The support of a cause.






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






46. Obstacles to international trade other than tariffs.






47. A company's main products - e.g. Opel's core product is cars.






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






49. Exclusive ownership of a property for an indefinite period of time.






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