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






2. Regular fluctuations in overall economic activity over time.






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






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






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






6. An extremely adverse environmental condition.






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






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






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






10. The buying and selling of government securities by a central bank in order to control the money supply.






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






12. Retail Price Index - UK measure of the changes in the prices of a basket of typical consumer goods.






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






14. Meeting accepted guidelines or laws.






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






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






17. A government-imposed tax on imports.






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






19. Regulations that mean permission from the government is required before certain items can be exported.






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






21. The hub of retailing in a city - where the most office buildings and retail stores are.






22. The variety of goods that a retailer sells.






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






24. Machine for processing sales - taking payments - giving change. Also know as a cash register.






25. Development which can be done without harming the environment or natural resources.






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






27. Volunteer organization for young - disadvantaged Americans.






28. When the imports into a country exceed the exports going out of a country.






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






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






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






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






33. When budget spending exceeds revenue.






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






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






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






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






38. Buying Power Index - a measure of a geographic area's market characteristics in terms of percentage of the US population - percentage of US retail sales and percentage of US effective buying income.






39. 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.






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






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






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






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






44. The violation of a law or right.






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






46. Multiple retail units under common ownership.






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






48. 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.






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






50. Patterns of relationships between different groups of society.