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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. A period of shrinking economic activity.






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






3. A reduction in the selling price of an item in order to increase sales.






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






5. 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.






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






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






8. A person who works for someone else in exchange for payment.






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






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






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






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






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






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






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






16. Gross Domestic Product - the total value of goods and services produced within a country in a year at current prices.






17. The quantity of goods of a certain kind that a country allows to be imported (without restriction or extra taxes).






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






19. When the exports a country makes exceed the imports.






20. A shop or store.






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






22. Value of the entire company as expressed by its market capitalization.






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






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






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






26. A way of measuring performance by comparing a company to similar ones.






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






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






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






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






31. Hiring an external company to perform tasks for a company and reduce costs.






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






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






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






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






36. Trade Union Congress.






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






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






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






40. The purchase of a financial product or other item of value with the hope that it will become more valuable.






41. The increasing capacity of an economy to satisfy the material wants of its members; period of expansion.






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






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






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






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






46. 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.






47. Economic policies designed to support business and help it expand.






48. A country's exports minus its imports.






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






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