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






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






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. Organization for Economic Cooperation and Development






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






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






7. A voluntary sector or charity sector organization.






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






9. 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.






10. Statement of policy issued by a government which may form the basis of a future law.






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






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






13. Top rating for bonds of the highest quality. Awarded by the main rating agencies: Standard & Poor's - Moody's and Fitch.






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






15. An individual or company buying from someone.






16. A period of decline in economic activity.






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






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






19. A shop that is usually open long hours and sells a limited selection of basic goods like food and newspapers.






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






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






22. Not in my backyard - someone who doesn't want something (like a prison or nuclear reactor) to be built near their home.






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






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






25. 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.






26. 1. The sum of the balance of trade plus net factor income (interest dividends) plus net transfer payments (foreign aid).2. Low or no-interest bank account used for daily transactions e.g. using an ATM - with a cheque book or debit card.






27. 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.






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






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






30. The violation of a law or right.






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






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






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






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






35. Involving the use of natural resources and energy in a way that does not harm the environment.






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






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






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






39. How companies try to show their products as being different from those of their rivals.






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






41. Regular fluctuations in overall economic activity over time.






42. A retail outlet.






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






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






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






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






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






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






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






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