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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. Purchase Power Parity - the degree to which your money will buy the same items in a foreign country - e.g. is a Big Mac cheaper in the US than it is in Germany?






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






3. The authority or agency responsible for controlling the movement of goods into and out of a country. Also the tax paid on goods imported into a country.






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






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






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






7. The checking - ordering & processing of stock levels.






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






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






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






11. Organization for Economic Cooperation and Development






12. Central Business District - the largest retail and office area of a city - also known as downtown






13. The variety of goods that a retailer sells.






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






15. Buying currency options that fix exchange rates for a period of time.






16. An extremely adverse environmental condition.






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






18. Obstacles to international trade other than tariffs.






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






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






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






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






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






24. An individual or company buying from someone.






25. When a company reduces their output during a recession they have excess or idle capacity.






26. When a private company provides a public service in agreement with a government or council.






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






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






29. A system where a company allows someone to run a specific business using the company's products or brand in exchange for a fee or share of the profits - McDonalds is a famous franchise.






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






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






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






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






34. When a customer regularly uses a store they know - like and trust.






35. Meeting accepted guidelines or laws.






36. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.






37. Trade Union Congress.






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






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






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






41. The number of times during a period a business sells its inventory and replaces it.






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






43. A period of economic expansion.






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






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






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






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






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






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






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