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






2. 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.






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






4. A large retail unit selling a wide variety of goods in separate departments.






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






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






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






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






9. A period of shrinking economic activity.






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






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






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






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






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






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






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






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






18. A card payment system where the cost of goods or services is immediately removed from a bank account.






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






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






21. A person or company from whom goods or services are bought.






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






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. When one company controls a certain market - e.g. British Telecom had a monopoly in the UK telephone market.






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






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






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






28. 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.






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






31. A system where a company allows someone to run a specific business using the company's products or brand in exchange for a fee or share of the profits - McDonalds is a famous franchise.






32. A government-imposed tax on imports.






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






34. A period of very high economic activity.






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






36. Focusing on a more specific line of products or services in comparison to competitors.






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






38. A period of decline in economic activity.






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






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






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






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






43. Confederation of British Industry






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






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






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






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






48. When a price has been cut.






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






50. A product which sells less often than other products (thus staying on the shelf longer and keeping it warm).