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






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






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






5. When a company reduces their output during a recession they have excess or idle capacity.






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






7. The right to live in a home on a long-term tenancy.






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






9. The system of organizations involved in moving a product from manufacturer to customer.






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






11. When a manager or politician only looks at the short term and does not consider the long term impact or benefits of a plan.






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






13. Something which is a copy or imitation.






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






15. A shop where you choose the items you want yourself - take them to the till and pay for them without any assistance from staff.






16. Something that is required by law.






17. American Federation of Labour / Association of Industrial Organizations






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






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






20. An individual or company buying from someone.






21. The total sum of goods and services in demand.






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






23. Shows the flows of money into and out of a country plus transfer payments.






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






25. 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.






26. All raw materials - work in progress and finished products in a company - usually counted once a year or when a company goes bankrupt.






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






28. An extremely adverse environmental condition.






29. Trade Union Congress.






30. Money which is spent on construction - land - machinery etc which has an expected working life of more than one year - investments in the future of a business.






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






32. Consumer goods that have a short life span - e.g. food or paper tissues.






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






34. Volunteer organization for young - disadvantaged Americans.






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






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






37. 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.






38. Regular fluctuations in overall economic activity over time.






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






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






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






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






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






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






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






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






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






48. An area of land which has never been built on.






49. When governments try to stabilize economic activities by funding major projects from budget deficits.






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