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






2. A period of shrinking economic activity.






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






4. Trade Union Congress.






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






6. The variety of goods that a retailer sells.






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






8. The percentage of a household's income that is saved.






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






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






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






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






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






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






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






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






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






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






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






20. An economic sanction that forbids the import of a specific product or all products from a specific country.






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






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






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






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






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






26. An extremely adverse environmental condition.






27. 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.






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






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






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






31. Process of communicating back and forth until an agreement has been reached.






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






33. 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.






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






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






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






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






38. Meeting accepted guidelines or laws.






39. Goods bought and used by companies - such as machines. Also known as capital goods.






40. The support of a cause.






41. The ethics of bribery - extortion and grease payments to bureaucrats and business leaders.






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






43. Patterns of relationships between different groups of society.






44. Something that is bought without being planned for.






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






46. An enormous planned shopping centre with hundreds of stores under one roof.






47. Obstacles to international trade based on customs tariffs.






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






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






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