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






2. 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.






3. Items sold in a store during a certain period measuring in number of units or value.






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






5. Something which is a copy or imitation.






6. 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.






7. 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?






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






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






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






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






12. Regular fluctuations in overall economic activity over time.






13. real Gross Domestic Product is the level of GDP having been adjusted for inflation.






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






15. A period of decline in economic activity.






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






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






18. 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.






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






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






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






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






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






24. A retail outlet.






25. A test or way of measuring something.






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






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






28. Doing something (performing a process) to make a material ready for your requirments.






29. 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.






30. Protection of local industries through tariffs - quotas and regulations that discriminate against foreign businesses.






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






32. When a price has been cut.






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






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






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






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






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






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






39. Imitating another company's ideas rather than developing your own.






40. Confederation of British Industry






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






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






43. The support of a cause.






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






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






46. A country's exports minus its imports.






47. Multiple retail units under common ownership.






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






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






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