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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 skills and knowledge needed to start and run a company.






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






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






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






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






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






7. The different layers within a society e.g. class - income - education.






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






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






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






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






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






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






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






15. Something that is required by law.






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






17. The balance between interest rates and the demand for money.






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






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






20. A test or way of measuring something.






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






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






23. A period of decline in economic activity.






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






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






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






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






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






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






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






31. Obstacles to international trade based on customs tariffs.






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






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






34. 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.






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






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






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






38. 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?






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






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






41. The support of a cause.






42. The variety of goods that a retailer sells.






43. The legal right of the owner of a work over its control and distribution.






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






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






46. The macroeconomic sector that includes the entire wants and needs satisfying population of the economy.






47. The purchase of a financial product or other item of value with the hope that it will become more valuable.






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






49. The way in which a company is controlled.






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







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