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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 card payment system where the cost of goods or services is immediately removed from a bank account.






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






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






4. A storeroom where items which cannot be put on display are stored.






5. A country's exports minus its imports.






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






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






8. The variety of goods that a retailer sells.






9. A retail outlet.






10. Anyone who has an interest in the success of an organization - e.g. the owner - employees - shareholders.






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






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






13. When a price has been cut.






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






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






16. The Federal Reserve - the US central banking system.






17. A period of very high economic activity.






18. Obstacles to international trade based on customs tariffs.






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






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






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






22. Things that reduce stock levels like shoplifting - employee theft or vendor fraud.






23. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.






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






25. Doing something (performing a process) to make a material ready for your requirments.






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






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






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






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






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






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






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






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






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






35. A retailer that concentrates on selling one particular type of good.






36. Items in a store which have not sold for a longer period of time.






37. Something that is bought without being planned for.






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






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






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






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






42. Trade Union Congress.






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






44. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.






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






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






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






48. Confederation of British Industry






49. Connected with society and the way it is organized.






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







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