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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. 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.






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






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






4. Statement of policy issued by a government which may form the basis of a future law.






5. Confederation of British Industry






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






7. 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.






8. 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.






9. Financial aid by the government to an individual or group to support an activity that is in the public interest.






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






11. Regulations that mean permission from the government is required before certain items can be exported.






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






13. Volunteer organization for young - disadvantaged Americans.






14. The money a state earns via taxation.






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






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






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






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






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






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






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






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






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






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






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






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






27. 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.






28. Refers to the number of distinct goods or services a retailer offers.






29. Consumer Price Index - a US measure of whether items are getting cheaper or more expensive using a sample of typical consumer goods.






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






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






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






33. Patterns of relationships between different groups of society.






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






35. The support of a cause.






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






37. Items which a shop has and are available to buy.






38. Multiple retail units under common ownership.






39. The area of the economy that produces goods and provides services.






40. The number of times during a period a business sells its inventory and replaces it.






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






42. Non-Governmental Organisations e.g. Greenpeace - Amnesty International - UNICEF.






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






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






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






46. Organization for Economic Cooperation and Development






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






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






49. Government policies to cool down an economy and prevent inflation during boom periods.






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