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






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






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






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






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






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






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






8. The rare situation when budget spending is smaller than revenue.






9. Trade Union Congress.






10. The customer group a retailer wants to attract and satisfy.






11. A company's main products - e.g. Opel's core product is cars.






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






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






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






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






16. A government-imposed tax on imports.






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






18. 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.






19. When the amount borrowed to pay for a home is now more than the property is actually worth.






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






21. A voluntary sector or charity sector organization.






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






23. 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?






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






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






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






27. A period of decline in economic activity.






28. Meeting accepted guidelines or laws.






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






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






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






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






33. Central Business District - the largest retail and office area of a city - also known as downtown






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






35. Obstacles to international trade other than tariffs.






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






37. The variety of goods that a retailer sells.






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






39. A medicine which is available without first getting a prescription from a doctor.






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






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






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






43. Obstacles to international trade based on customs tariffs.






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






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






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






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






48. 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.






49. American Federation of Labour / Association of Industrial Organizations






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