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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. Something that is bought without being planned for.






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






3. A period of decline in economic activity.






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






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






6. 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.






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






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






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






10. A person or organization which receives money from a charity.






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






12. Obstacles to international trade other than tariffs.






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






14. Refers to the number of distinct goods or services a retailer offers.






15. An extremely adverse environmental condition.






16. When budget spending exceeds revenue.






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






18. A test or way of measuring something.






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






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






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






22. The way in which a company is controlled.






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






24. Patterns of relationships between different groups of society.






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






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






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






28. A pricing strategy using premium prices to attract customers more concerned about service - assortment and status than price.






29. An official statement of the aims of a company or an organization - e.g. We aim to be the number one supplier of quality wooden furniture.






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






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






32. North American Free Trade Agreement - trade agreement between the USA - Canada and Mexico.






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






34. Imitating another company's ideas rather than developing your own.






35. Giving people the freedom to decide things and take responsibility for themselves.






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






37. Multiple retail units under common ownership.






38. A tax imposed on imports by the customs authority of a country.






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






40. An enormous planned shopping centre with hundreds of stores under one roof.






41. Sets of specific restraints imposed by governments on international trade.






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






43. A country's exports minus its imports.






44. The gross domestic product in that year's prices i.e. nominal GDP does not account for inflation.






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






46. Volunteer organization for young - disadvantaged Americans.






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






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






49. A period of very high economic activity.






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